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Equities: Capitalisation Lifts Market With 0.16% Boost

Market Capitalization ends the second week of the month with a 0.16 per cent boost as All Share Index rises by 0.15 per cent at the Nigerian Stock Exchange (NSE)

Joy Onyemaechi

Market capitalization closed the week ended May 15, 2015 with N11.697 trillion as against the previous week capitalization of N11.678 trillion, gaining N19 billion. Similarly, the NSE All Share Index gained 51.19 points to close the week with 34,439.40 points as against the prior week which closed with 34,388.21 points. This brings the All Share Index year-to-date (y-t-d) loss to 0.63 per cent.

Six indices finished higher last week except NSE Banking and NSE Insurance indices which edged lower by 0.19 and 0.14 per cent respectively. The banking index shed 0.74 points, that is 0.19 per cent lower than previous week when it finished with an index of 397.25 points. NSE Insurance Index lost 0.21 points that is 0.14 per cent lower. It closed the week with 146.91 as against 147.12 in the penultimate week.

During the week 1.626 billion shares worth N14.426 billion in 20,124 deals were traded by investors on the floor of the Nigerian Stock Exchange in contrast to a total of 1.584 billion shares valued at N20.151 billion that changed hands in 23,279 deals. The market thus appreciated by 42 million shares which is 2.65 per cent in terms of volume of trade and lost N5.725 billion which is 28.41 per cent in terms of value of trades.

On the activity chart, the financial service sector led after trading 1.289 billion shares valued at N9.741 billion in 10,522 deals. Thus contributing 79.29 per cent and 67.52 per cent to the total market volume and value traded respectively. Following was the consumer goods with 69.608 million shares worth N2.078 billion in 3,552 deals thus contributing 4 per cent to the total market trading activities.

Equities which moved the market the most were UBA, Zenith International Bank Plc and FBN Holdings Plc. They accounted for 754.043 million shares worth N6.223 billion in 3,699 deals contributing 46.37 per cent and 43.13 per cent of the total equity turnover volume and value respectively.

Of the 193 equities that were traded on the floor of the Nigerian Exchange last week, 30 appreciated in price, 41 shed prices while 122 maintained their opening prices. This is in contrast to last week which recorded 32 price gainers; 45 shed prices while 116 maintained their prices.

Top ten (10) gainers for last week, based on percentage of equity price, was led by Berger Paints which gained 10.25 per cent to close the week with a share price of N10. Closely following was University Press Plc with a 10.04 per cent gain to close the week with share price of N6.03 as against N5.48 recorded in the previous week. Next on the list was Beta Glass Plc with 10 per cent which closed with N33.00 as against N30.00 in the previous week. Neimeth and 7-up closely followed — closing the week with share prices of N1.10 and N176, gaining 10 and 8.64 per cent respectively.

Caverton Offshore Plc closed with equity price of N3.70 which is 7.25 per cent better than its price in the penultimate week. Forte Oil, Conoil Plc and Unilever Plc were able to make the top spot after gaining 6.27, 5.00 and 4.72 per cent to boost their prices to N173.23, N39.92 and N45.03 respectively. To close the list was Red Star Express which appreciated in share price by 4.68 per cent to close at N4.92. All the top gainers had less than 15 per cent increase in share prices.

Glaxosmithkline led the losers’ table after shedding 18.15 per cent of its price to close the week with N44.20 as against N54 in the prior week. Unity Bank was next with a closing share price of N2.23 due to 14.89 per cent loss in share price recorded the previous week. Others include Skye Bank, Honeywell Flour Mill, Eco Bank and May & Baker Plc which shed 13.20, 12.37, 11.96 and 10.61 and ended the week with a closing price of N2.17, N3.47, N21.56 and N1.60 respectively.

Learn Africa Plc shed 9.45 per cent to close the week with N1.15. Total Nigeria Plc lost 9.09 per cent to close with N150. R.T Briscoe Plc lost 8.91 per cent to close with N0.92 and Trans Nationwide Express Plc couldn’t breakeven with its N1.06 closing price, 8.62 per cent south of what it at the beginning of the week.

Though the capital Market showed improvement last week, it was not a mouth watering improvement. Investors are still being careful as to their level of investments as they don’t know the kind of policies that would be put in place by the incoming governments and what the effect of those policies would be. Also a lot of companies except the banks experienced a slide in their profit for the first quarter with some even declaring outright loss. Investors are not sure what to expect it would take a little more time to get the capital market to where we expect it to be.

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