Stock investors at NSE lost N170bn in one week

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Stock investors at the Nigerian Bourse booked approximately N170billion loss in the four-day trading week ended Friday June 14, 2019.

In the review week, some market analysts had expected bargain hunting on some down-beaten stocks following the preceding week’s negative performance and weak investor sentiment.

Rather, the stock market benchmark indicator decreased by 1.27percent in one week. Currently, the market’s return year-to-date (ytd) is in the negative region of -4.40percent.

The Nigerian Stock Exchange (NSE) All Share Index (ASI) and market capitalisation decreased from a high of 30,432.13 points and N13.402 trillion in the trading week ended June 7 to 30,046.70 points and N13.232trillion respectively as at June 14.

“In the absence of a positive catalyst, we guide investors to trade cautiously in the short term. However, stable macroeconomic fundamentals as well as compelling valuation remains supportive of recovery in the mid-to-long term,” research analysts at Cordros Capital had said in their June 10 note.

Despite the positive close (+0.06) on Friday to end the week, analysts see the stock market drifting back to negative territory at week open due to absence of market catalysts or significant news that could boost investor appetite.

In their June 14 equity note, analysts at Lagos-based Vetiva highlighted that prices of stocks on the NSE remain attractive and pose a good entry point for long term investors.

At the NASD OTC market for unlisted securities, the market capitalisation increased to N542.14 billion from preceding week’s low of N541.24 billion, which shows a 0.17percent increase in Capitalisation.

Also the Unlisted Securities Index (USI) for the week ended June 14, 2019 recorded an increase from 753.35 points to 754.61 points.

 

Iheanyi Nwachukwu

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Stock investors gain over N800bn in one week

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Investors in Nigerian stock market gained approximately N885 billion in the trading week to May 24, 2019 following increased demand in the shares of newly listed MTN Nigeria Communications Plc (MTNN) and that of Dangote Cement Plc.

The Nigerian Stock Exchange (NSE) All-Share Index (ASI) and Market Capitalisation appreciated by 6.96percent to close the review week at 30,881.29 points and N13.602trillion respectively from preceding week low of 28,871.93 points and N12.717 trillion.

Thirty (30) equities appreciated in price during the review week, higher than 16 in the preceding week. Forty (40) equities depreciated in price, lower than 42 equities in the preceding week, while 98 equities remained unchanged, lower than 109 equities recorded in the preceding week.

All other indices finished lower with the exception of the -, NSE 30, NSE Premium, NSE Insurance, NSE MERI Growth, NSE Lotus II and NSE Industrial Goods Indices that appreciated by – 0.81percent, 14.09percent, 1.18percent, 1.42percent, 3.45percent and 6.12percent respectively.

The market recorded turnover of 1.698 billion shares worth N57.895 billion in 24,328 deals in contrast to a total of 1.172 billion shares valued at N17.887 billion that exchanged hands in the preceding week in 18,380 deals.

The Financial Services Industry (measured by volume) led the activity chart with 1.121 billion shares valued at N8.708 billion traded in 13,380 deals; thus contributing 66.01percent and 15.04percent to the total equity turnover volume and value respectively; followed by the ICT Industry with 324.332 million shares worth N40.717 billion in 3,330 deals; and Consumer Goods Industry with a turnover of 75.831 million shares worth N2.948 billion in 2,957 deals.

Trading in the Top Three Equities namely, MTN Nigeria Communications Plc, Sovereign Trust Insurance Plc (measured by volume) accounted for 726.103 million shares worth N41.622 billion in 4,972 deals, contributing 42.75percent and … Read More...