TRADING activities on the floor of the Nigerian Stock Exchange closed on a negative note on Friday as NSE ASI depreciated by 0.07% to close at 23,501.87basis points, compared with the 0.38% depreciation recorded previously. Its Year-to-Date (YTD) returns currently stands at -17.95%
Investors recommenced profit taking activities on the Nigerian bourse on the back of recent gains seen in the previous week.
The bourse shed 1.73 per cent amid improved demand. The NSE All Share Index closed lower at 23,501.87 points. The market breath closed in favor of the bears as more equities closed in red in all but the second trading session of the week.
The market capitalization also tilted southwards by N142 billion in the week under review. NSE sector indices all closed in red save for NSE Alternative Securities Market Index, NSE Insurance Index and NSE Oil & Gas which added 0.07 per cent, 0.86 per cent and 4.02 per cent respectively.
Transaction level by volume and value of trades recorded a significant improvement of 328 per cent and 33 per cent respectively in contrast to last week’s closing levels. In the week under review, a total of 4.85 billion shares valued at N12.58 billion were exchanged in 16,341 number of deals compared to 1.13 billion shares valued at N9.46 billion exchanged in 16,336 deals recorded in the previous trading week.
On day by day transactions, the equities market reversed the positive run recorded in the previous two trading day as investors booked profit from the gains. Consequently, the benchmark index depreciated by 89.39 basis points to close at 23,826.76 points forcing market capitalisation to N8.194 trillion after losing N31.3 billion, at the close of the trading. Losses recorded in Dangote Cement and Forte Oil largely drove the loss recorded. The total value traded decreased by 25.2 per cent to N1.5 billion as the volume traded decreased marginally by 3.8 per cent to settle at 232.2 million units. Nineteen equity prices rose while 25 stocks declined. Zenith Despite the bearish sentiment in the market, buy bias was seen within the financial services sector as it returned 1.7 per cent on the back of an 8.6per cent gain in Zenith Bank stocks. Despite gains in Seplat Petroleum Development Company and Oando, the Oil and Gas sector returned -2.6per cent due to losses of 5 per cent apiece in Total Nigeria and Forte Oil. Losses in Dangote Cement led to a negative return for the Industrial sector by -1.2 per cent. The Consumer goods sector also closed the day on a negative note, returning -0.8 per cent mostly driven losses in Guinness Nigeria and 7-Up Bottling Company stocks.
Stocks recorded marginal gains of N3 billion on Tuesday as the benchmark index added 8.11 basis points. The market was up 0.3 per cent as ‎ 22 stocks appreciated, while 19 depreciated as the All Share Index closed at 23,834.87 points. The total volume and value traded increased by 35.1 per cent and 61.3 per cent to 313.7 million and N2.4 billion respectively. Given the recent strong gains, we expect to see profit-taking activities as the week draws to a close which should see the week close marginally negative.
Mixed sentiments invade key sectors as bellwether Dangote Cement shoves up industrial goods while sell offs were seen across the financial services and consumer goods sectors with the former losing 0.5 per cent on the back of losses in Guaranty Trust Bank and Zenith Bank. The Consumer Goods sector also saw a -0.4 per cent return as 7-Up Bottling Company and Nigerian Breweries lost 4.9 per cent and 0.5 per cent respectively in their share prices. Conversely, a gain of 5 per cent in Seplat Petroleum Development Company drove the Oil and Gas sector to a 0.8 per cent return while Dangote Cement shoved the Industrial goods sector up by 0.8 per cent.
The benchmark index lost 228.98 points on Wednesday to close at 23,605.89 points while market capitalisation shed N78.7 billion to settle at N8.119 trillion. Losses recorded was on the back of sell-offs in Dangote Cement, Zenith Bank, PZ, Guaranty Trust Bank and Oando. Total value and volume traded increased by 20.8 per cent and 319.3 per cent to N2.9 billion and 1.3 billion units respectively. Only 10 equity prices rose while 28 stocks declined on after the trading. On the back of gains in Seplat Petroleum Development Company, the Oil & Gas sector closed positive returning 1.8 per cent. On the flip side, the financial services sector topped the loser’s chart, losing 2.5 per cent due to losses in Zenith Bank and Guaranty Trust Bank. Regardless of gains in 7-Up and Guinness Nigeria the Consumer goods sector also closed the day on a negative note, returning -0.8 per cent driven by losses in Nigerian Breweries. Gains recorded in Dangote Cement led to a 0.7 per cent negative return for the Industrial sector.
Sentiments still weak on Thursday as the NSE All Share Index sheds 15.32 points.
Total value traded increased by 28.5 per cent to N3.7billion as the volume traded increased by 100.8 per cent to settle at 2.6 billion units.
Despite weak overall market sentiments, investor demand in Forte Oil aided the 4.8 per cent return seen in the Oil and Gas sector. The Financial Services sector also recorded daily returns of 0.8 per cent, as share price of Guaranty and Zenith appreciated by 2.3 per cent and 0.7 per cent respectively. Conversely, the Consumers Goods sector returned -1.3 per cent as 7-Up Bottling Company and Nestle Nigeria loss 5 per cent a piece equity prices while a 2.1 per cent loss in Dangote Cement share prices resulted in a -1.9 per cent return in the Industrial goods sector.
The bearish sentiment within the equity market further persisted on Friday marking the 3rd consecutive day of negative trading on the local bourse. Consequently, the benchmark index shed a fractional 15.32 basis points to close at 23,501.87 points while market capitalisation shed N5 billion to settle at N8.083 trillion. Losses recorded was on the back of sell-offs in 7-Up Bottling Company, PZ, Forte Oil, Zenith Bank and Oando. Total value and volume traded decreased by 46.2 per cent and 87 per cent to N2 billion and 344.6 million units respectively.
The Financial Services and Industrial Goods sector traded flat as gains cancelled losses. At the close of trading, Dangote Cement’s share price remained unmoved whereas the stocks within the financial services sector cancelled out each other’s gains and losses. Losses in Access Bank and Zenith Bank were cancelled out by gains in Guaranty Trust Bank and Ecobank Transnational Incorporated. Regardless of gains in Seplat Petroleum Development Company, the Oil & Gas sector closed negative returning -1.2 per cent on the back of losses in Oando. On the flip side, the Consumer goods sector was the only sector to close the day on a positive note, returning 0.1 per cent driven by gains in Nigerian Breweries.
Summary of price changes shows that 28 equities appreciated in price during the week, lower than 38 equities of the preceding week. Forty equities depreciated in price, higher than 29 equities of the previous week, while 122 equities remained unchanged, lower than 123 equities recorded in the preceding week.
Seplat Petroleum Development Company Plc led gainers chart with N348.75 kobo per share to close at N243.00 kobo, followed by Mobil Oil Nigeria Plc with N7.13 kobo to close at N147.63 kobo, Forte Oil Plc with N2.17 kobo to close at N300.00 kobo, Ecobank Transnational Incorporated Plc with N0.94 kobo to close at N15.70 kobo per share and UAC of Nigeria Plc with N0.89 kobo to close at N20.89 kobo per share.
Others on the chart are, Flour Mills Nigeria Plc with N0.76 kobo to close at N19.01 kobo, Presco Plc with N0.75 kobo to close at N34.00 kobo, Stanbic IBTC Holdings Plc with N0.40 kobo to close at N14.00 kobo, Berger Paints Nigeria Plc with N0.29 kobo to close at N9.30 kobo, and Zenith Bank Plc with N0.22 kobo to close at N12.83 kobo.
On the other hand Nestle Nigeria Plc led on the losers table with N36.99 kobo loss to close at N703.00 kobo, 7-Up Bottling Company Plc lost N19.30 kobo to close at N176.70 kobo, Total Nigeria Plc with N10.00 kobo to close at N140.00 kobo, Unilever Nigeria Plc with N4.90 kobo to close at N30.34 kobo, Dangote Cement Plc with N4.61 kobo to close at N124.30 kobo.
Others on the chart are, GlaxoSmithKline Consumer Nigeria Plc with N3.83 kobo to close at N23.16 kobo, Beta Glass Company (Nig.) Plc with N3.45 kobo to close at N50.00 kobo, Conoil Plc with N2.40 kobo to close at N22.34 kobo, Julius Berger Nigeria Plc with N2.00 kobo to close at N41.50 kobo per share and Okomu Oil Palm Company Plc with N1.50 kobo loss to end the week at N29.00 kobo per share.


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