Toyin Samuel
The Nigerian stock market last week continued its downtrend as renewed selling pressure further pulled the market lower for the 5th straight session. The marginal gains recorded in three out of five trading days were not enough to lift the market to a bullish mood, reflecting a broader shift in investor sentiment as market participants reassessed their risk exposure in an increasingly uncertain macroeconomic environment. The tone of the session suggested that investors were more concerned with capital preservation than chasing upside, especially as liquidity thins out and major catalysts remain absent.
Specifically, the All-share index was down by 0.14% to close the week at 143,520.53 points from 143,722.62 points in the previous week.
Market capitalization fell by 0.14% to settle at N91.286 trillion from the previous close of N91.415.
The persistent profit taking has pushed the market Year-to-date (YTD) return to 39.44%
A total turnover of 4.141 billion shares worth N116 billion in 102,433 deals was traded last week by investors on the floor of the Exchange, in contrast to a total of 2.668 billion shares valued at N106 billion that exchanged hands last week in 108,139 deals.
Thirty-eight (38) equities appreciated in price during the week, higher than twenty (20) equities in the previous week. Thirty-six (36) equities depreciated in price, lower than sixty (60) equities in the previous week, while seventy-three (73) equities remained unchanged, higher than sixty-seven (67) recorded in the previous week.
Similarly, all other indices finished lower with the exception of NGX CG, NGX Premium, NGX Banking, NGX Pension, NGX AFR Div. Yield, NGX AFR Bank Value, NGX MERI Growth, NGX MERI Value, NGX Lotus II, NGX Growth and NGX Sovereign Bond Indices which appreciated by 0.62%, 0.50%, 0.67%, 0.53%, 0.94%, 0.89%, 0.15%, 0.52%, 0.33%, 0.01% and 0.24% respectively.
TOP 10 GAINERS
Ikeja Hotel led the gainers’ chart with 45.08% to close at 30.25 from the previous close of N20.85.
NCR, UACN, CWG and VERITAS KAPITAL grew their share prices by 32.97%, 12.71%, 11.84% and 11.25% respectively.
Others among top 10 gainers include: Academy Press 9.70%, RTBRISCOE 9.21%, ETRANZACT 9.06%, NGXGROUP 8.91% and Prestige Assurance 8.84% respectively.
TOP 10 LOSERS
MEYER led other price decliners as it shed 18.89% of its share price to close at N13.10 from the previous close of N16.15.
Sunu Assurance, UPDC, TANTALIZER and ABBEY BUILDING among other price decliners shed their share prices by 14.78%, 11.93%, 10.36% and 10.00% respectively.
Others among top 10 price decliners include: Regency Alliance (7.96%), Sovereign Trust Insurance (6.90%), DEAPCAP (6.83%), C & I Leasing (6.42%) and CAVERTON (6.36%) respectively.