Market Indices Shrink
By Godfrey Okpugie
Bears held sway on the floor of the Nigerian Stock Exchange (NSE), last week, as the all-share index dipped leading to further decline in market capitalization.
The all-share index dropped by 1.32 per cent to close on Friday, November 6, at 21,517.29 and market capitalization closed lower at N5.1 trillion.
Also, the NSE-30 index dropped by 0.44 per cent to close at 833.69. Only one of the four sectoral indices appreciated and that was food/beverages, which rose by 1.94 per cent to close at 494.41. Others, namely, banking dropped by 2.8 per cent to close at 346.28, insurance dropped by 2.41 per cent to close at 290.12, and oil/gas also dropped by 1.1 per cent to close at 299.94.
A turnover of 2.4 billion shares worth N14.65 billion in 31,070 deals was recorded during the week, in contrast to a total of 1.95 billion shares valued at N11.4 billion exchanged in 30,579 deals in the preceding week.
Banking was most active, measured by turnover volume, with 1.62 billion shares worth N10.33 billion exchanged by investors in 17,702 deals. The shares of Oceanic Bank International, Access Bank, UBA and First Bank were the most traded. They accounted for 914.3 million shares or 56.6 per cent of banking turnover.
Insurance, boosted by activity in the shares of Goldlink Insurance Plc and AIICO Insurance Plc, came second on the week's activity chart with a turnover of 426.9 million shares valued at N296.53 million in 2,115 deals.
Thirty-three stocks appreciated in price during the week, lower than the 41 that did so in the preceding week.
TOP TEN GAINERS
Nestle Nigeria Plc N21.93
Unilever Nigeria Plc N19.22
North Nig. Flour Mills N1.93
GTB Plc N1.51
Cement Co. North Plc N1.00
PZ Cussons Plc N0.84
Nig. Av. Hdling Plc N0.63
Ashaka Cement Plc N0.59
Nig. Breweries Plc N0.40
Skye Bank Plc N0.36
TOP LOSERS
Lafarge WAPCO N2.00
Flour Mills of Nig, N1.95
UACN Property N1.91
African Petroleum N1.72
Union Bank N1.62
Julius Berger Plc N1.48
Glaxo Smithkline N1.22
Ecobank Nig. Plc N0.92
G Cappa Plc N0.80
First Bank N0.70
