Nigerian Stock Investors Lose N13bn In One Week

Stock Investors Record N5.6tn Profit In 12 Months

The Nigerian Exchange Limited finished down last week as investors took account of the Monetary Policy Committee of the Central Bank of Nigeria’s raise in the Monetary Policy Rate and proceeded to profit-take.

The market capitalization fell by N13 billion at the close of last week’s trade. The All-Share Index finished 0.04 percent down at 54,892.53 after opening the week at 54,915.39. Similarly, all other indexes concluded down, with the exception of the NGX Consumer Goods and NXG Growth indices, which gained 1.11 percent and 2.90 percent, respectively, while the NGX ASeM, NGX Oil and Gas, and NGX Sovereign Bond indices were flat.

The NGX ASI rose marginally on Wednesday, a day after the new MPR rate was revealed, but it continued to fall until Friday’s closing. Investors on the Exchange traded 1.689 billion shares worth N11.066 billion in 14,019 transactions last week, compared to 853.745 million shares worth N11.841 billion sold in 18,543 transactions the previous week.

The healthcare industry (measured by volume) dominated the activity chart, with 1.086 billion shares worth N1.627 billion exchanged in 267 transactions, accounting for 64.32 percent of total stock turnover volume and 14.70 percent of total equity turnover value.

The financial services industry came in second with 379.556 million shares worth N4.547 billion in 6,711 transactions. The conglomerates industry came in third, with a turnover of 89.526 million shares for N131.231m in 534 transactions.

Trading in the top three equities, namely Neimeth International Pharmaceuticals Plc, Transnational Corporation Plc, and United Bank for Africa Plc, accounted for 1.248 billion shares worth N2.347 billion in 1,102 transactions, accounting for 73.89 percent and 21.21 percent of total equity turnover volume and value.

Twenty-eight stocks gained over the week, compared to 19 stocks the prior week. 27 shares fell, compared to 47 the previous week, while 102 equities stayed steady, compared to 91 the previous week.

The top gainer in the past week was Sunu Assurances Nigeria Plc which gained 9.09 per cent to end the week at N0.48. Lasaco Assurance Plc followed with a 7.14 per cent increase in its share capital to close at N1.05, while on the losers’ table, NCR Nigeria Plc lost 18.69 per cent of its share value to end the week at N2.35, and Ikeja Hotel lost 18.25 per cent to close at N1.03.

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