By Peter OBIORA InvestAdvocate
Lagos (INVESTADVOCATE) – The Nigerian Stock Exchange (NSE) benchmark index on Friday recorded its first Week-on-Week (w/w) loss in three (3) weeks as all-share index (ASI) and market capitalisation depreciated by 2.23 percent and 1.92 percent respectively to close at 34,930.02 and N11.903 trillion.
“Similarly, all the Indices finished lower during the week with the exception of the NSE Consumer Goods and NSE Lotus II indices that chalked up by 1.04 percent and 0.34 percent respectively. However, the NSE ASeM Index that closed flat,” according to the NSE weekly stock market report for April 10, 2015.
While Cordros reported that following the historical 16.90 percent gain recorded last week, profit takings sufficed on the NSE with the loss recorded in the benchmark index.
According to Cordros, the market opened for the week on Tuesday -following the public holiday on Monday – on a negative note which lasted through Wednesday, as profit taking by short term investors led to a total decline of 4.35 percent. The bulls returned on Thursday and Friday but were not strong enough to fill the losses from the prior sessions.
The update affirmed that the week’s loss reduced the Year-to-Date (Y-t-D) gain by 230 basis points (bps) to 0.79 percent, while the Month-to-Date (M-t-D) return also declined by 251 bps to 10.03 percent.
“The Consumer Goods index topped the gainers’ chart with a 4.35 percent w/w increase, largely attributed to price appreciation in shares of beverage maker, Nestle Nigeria Plc (11.47 percent),”. The Banking index was the other gainer with a marginal 0.05 percent w/w,” the report affirmed.
On the contrary, the Insurance index topped the losers’ chart with a 0.79 percent decrease, while the Industrial and Oil/Gas indices also fell by 0.42 percent and 0.09 percent respectively, the Cordros report added.
In terms of turnover, the NSE say 3.511 billion shares worth N25.196 billion in 26,836 deals were traded this week by investors on the Nigerian bourse to a total of 2.632 billion shares valued at N36.583 billion that exchanged hands last week in 21,393 deals.
The report further affirmed that the Financial Services Industry (measured by volume) led the activity chart with 3.000 billion shares valued at N18.262 billion traded in 16,356 deals; thus contributing 85.44 percent and 72.48 percent to the total equity turnover volume and value respectively.
It said the Conglomerates Industry followed with a turnover of 259.080 million shares worth N1.120 billion in 1,650 deals. While the third position was the Consumer Goods Industry with 89.843 million shares worth N3.103 billion in 3,768 deals.
Shares of lender Diamond Bank Plc, insurer, Standard Alliance Insurance Plc and Nigeria’ leading conglomerate Transnational Corporation of Nigeria Plc (measured by volume) accounted for 1.773 billion shares worth N4.964 billion in 1,589 deals, contributing 50.49 percent and 19.70 percent to the total equity turnover volume and value respectively.
Also, a summary of price changes at the Nigerian bourse shows that 25 equities appreciated in price during the week, lower than 72 of the past week. On the contrary, 53 equities dipped in price, higher than six (6) recorded last week, while 118 equities remained unchanged, the same with the previous week.
