Stock investors lose N13bn in one week

This week, the Nigerian Exchange Limited closed lower as investors took stock of the hike following the Monetary Policy Committee of the Central Bank of Nigeria's increase in the Monetary Policy Rate.

Last week's trading activities resulted in a N13 billion drop in market capitalization.

The All-Share Index finished the week with a 0.04 percent decline, closing at 54,892.53 as opposed to 54,915.39 at the beginning of the week.

The other indexes also ended down, with the exception of the NGX Consumer Goods and NXG Growth indices, which rose by 1.11 and 2.90 percent, respectively, while the NGX ASeM, NGX Oil and Gas, and NGX Sovereign Bond indices ended level.

The NGX ASI increased little on Wednesday, the day after the new MPR rate was published, but it declined until Friday's close of business.

Investors traded 1.689 billion shares worth N11.066 billion in total over the last week in 14,019 deals, as opposed to 853.745 million shares worth N11.841 billion that changed hands over the prior week in 18,543 deals.

With 1.086 billion shares worth N1.627 billion exchanged in 267 deals, the healthcare sector dominated the activity chart in terms of volume, accounting for 64.32 per cent and 14.70 percent, respectively, of the total stock turnover volume and value.

The financial services sector came in second with 6,711 deals totalling N4.547 billion and 379.556 million shares. The conglomerates' sector came in third with 534 transactions totalling 89.526 million shares valued at N131.231 million.

Trading in the top three stocks, Neimeth International Pharmaceuticals Plc, Transnational Corporation Plc, and United Bank for Africa Plc, contributed 1.248 billion shares worth N2.347 billion in 1,102 trades, or 73.89% and 21.21%, respectively, to the overall equity turnover volume and value.

The week saw a greater increase in share price appreciation for 28 stocks than for 19 stocks the week before.

While 102 stocks remained steady, a greater number than the 91 stocks recorded the week before, only 27 stocks declined, less than the 47 stocks that did so the week before.

Sunu Assurances Nigeria Plc was the highest performer over the last week, rising 9.09% to close at N0.48. On the losers' table, NCR Nigeria Plc lost 18.69% of its share value to conclude the week at N2.35, and Ikeja Hotel lost 18.25% to close at N1.03, while Lasaco Assurance Plc came in second with a 7.14% growth in its share capital to close at N1.05.

Source