Equities closed downward on NSE

Consequently, two of the four sectorial indices appreciated during the week, same as during the preceding week.

The NSE Consumer Goods Index appreciated by 6.08 points or 0.4 per cent to close at 1,718.03 and the NSE Oil/Gas Index appreciated by 0.22 points or 0.1 per cent to close at 216.31. However, the NSE Banking Index depreciated by 9.95 points or 3.3 per cent to close at 290.60 and the NSE Insurance Index depreciated by 2.33 points or 1.9 per cent to close at 121.46.

However, a turnover of 1.975 billion shares worth N18.95 billion in 18,651 deals was recorded this week, in contrast to a total of 1.924 billion shares valued at N16.7 billion exchanged last week in 20,158

deals. The Financial Services sector accounted for 1.6 billion shares valued at N7.53 billion traded in 11,244 deals. The Conglomerates sector followed with for 177.9 million shares valued at N335.834 million traded in 677 deals. Last week, the Financial Services sector led on the activity chart and was followed by the Conglomerates sector.

However, the Banking subsector of the Financial Services sector was the most active during the week (measured by turnover volume); with 1.423 billion shares worth N7.42 billion exchanged by investors in 10,484 deals. Volume in the Banking subsector was largely driven by activity in the shares of Sterling Bank Plc, UBA Plc and Zenith Bank Plc. Trading in the shares of the three banks accounted for 817.4 million shares, representing 57.4 per cent, 51.8 per cent and 41.4 per cent of the turnover recorded by the subsector, sector and total turnover for the week, respectively.

The Diversified Industries subsector of the Conglomerates sector, boosted by activity in the shares of Transnational Corporation of Nigeria Plc, followed on the week’s activity chart with a subsector turnover of 177.9 million shares valued at N335.834 million traded in 677 deals.

Last week, the Banking subsector led on the activity chart and was followed by the Diversified Industries subsector.

Also traded during the week were 100 units of NewGold Exchange Traded Products valued at N261.35 million traded in 2 deals.

Meanwhile, 20 equities appreciated in price during the week, lower than the 43 of the preceding week. Two Companies from the Consumer Goods sector led on the gainers table. As in the preceding week, Nestle Nigeria Plc led on the gainers’ table with a gain of N20.83 kobo close at N462.37 per share while Guinness Nigeria Plc followed with a gain of N9.00 kobo to close at N239.00 per share. Other price gainers’ in the top 10 category include Julius Berger Nigeria Plc with N6.80 kobo, Conoil Plc with N1.22 kobo, Dangote Cement Plc with N0.78 kobo, Oando Plc with N0.62 kobo, 2.8, NCR (Nigeria) Plc with N0.56 kobo, Dangote Flour Mills Plc with N0.50 kobo, UAC of Nigeria Plc with N0.47 kobo and UACN Property Development Co. Plc with N0.45 kobo.

On the other hand, 42 stocks depreciated in price, higher than the 25 of the preceding week.

Total Nigeria Plc led on the price losers’ table, dropping by N8.57 kobo to close at N162.91 per share while Nigerian Breweries Plc followed with a loss of N3.00 kobo to close at N95.00 per share. Other price losers in the top 10 category include Flour Mills of Nigeria Plc-N1.51 kobo, Union Bank of Nigeria Plc- N1.28 kobo, Ashaka Cement Plc-N0.89 kobo, Portland Paints & Products Nig. Plc-N0.68 kobo, First Bank of Nigeria Plc-N0.59 kobo, Cement Co. of Northern Nig. Plc-N0.57 kobo, Zenith Bank Plc-N0.55 kobo and First City Monument Bank Plc-N0.54 kobo.