Profit taking in major companies contributed to the negative performance of the Nigerian Stock Exchange for the second week as market depreciated by 0.48%
The negative performance analysts at Afrinvest said it was largely attributable to profit taking in bellwethers – Dangote Cement (-0.2%), Nigerian Breweries (-3.5%) and Guaranty Trust Bank (-2.3%).
Similarly, all other indices finished lower with the exception of NSE Premium, NSE Banking, NSE Insurance, NSE Oil/Gas and NSE Lotus II indices that appreciated by 0.35%, 0.45%, 0.83%, 0.13% and 0.34% respectively while the NSE ASeM closed flat
Thirty-five (35) equities appreciated in price during the week, lower than thirty- seven (37) in the previous week. Forty-nine (49) equities depreciated in price, higher than thirty-two (32) equities of the previous week, while Eighty-five (85) equities remained unchanged lower than one-hundred (100) equities recorded in the preceding week.
Cement Co. of North. Nigeria Plc
Veritas Kapital Assurance Plc
Linkage Assurance Plc
Okomu Oil Palm Plc
Skye Bank Plc
Red Star Express Plc
Caverton Offshore Support GRP Plc
Nigerian Aviation Handling Company Plc
Nigeria Insurance Co. Plc
Japaul Oil & Maritime Services Plc
UACN Property Development Co. Limited
Unity Bank Plc
Champion Brew. Plc
Courteville Business Solutions Plc
Sovereign Trust Insurance Plc
First Aluminium Nigeria Plc
Neimeth International Pharmaceutical Plc
The financial services (measured by volume) led the activity chart with 1.360 billion shares valued at N20.378 billion traded in 11,936 deals; thus contributing 85.80% and 78.40% to the total equity turnover volume and value respectively.
The consumer goods industry followed with 52.727 million shares worth N2.125 billion in 3,301 deals.
The third place was occupied by oil and gas industry with a turnover of 50.092 million shares worth N783.716 million in 2,153 deals.
In the preceding week, Dangote companies were among the worst performing stocks during the four-day trading session as the NSE All-Share Index and Market Capitalisation shed 0.06% to close the week at 41,218.72 and N14.931 trillion respectively.
Dangote stocks led the flip side with its flour mills losing N2.60 kobo at 18.57% change for the week while Dangote Sugar refinery Plc lost N2.40 kobo at 11.21%. Others were Eternal Plc, Prestige Assurance Company Plc, Regency Alliance Insurance Company Plc, Oando Plc, Chams Plc, Japaul Oil and Maritime Services Plc, Wapic Insurance Plc and Niger Insurance Company Plc.