L – R: Norna Awoh, Head, Palestine Capital; Oladipo Aina, Managing Director/CEO, Signet Securities Limited; Mr. Jude Chiemeka, Divisional Head, Trading Business Division, The Nigerian Stock Exchange (NSE); Adedapo Adekoje, President, Chartered Institute of Stockbroker (CIS); Sam Willie Ndata, Doyen of Stockbrokers and Patrick Ezeagwu, Chairman, Association of Stockbroking Houses of Nigeria (ASHON) at NSE Retail Investor Coverage Workshop at the Exchange today in Lagos.

Equities market of the Nigerian Stock Exchange (NSE) continued its bearish movement to lose N136.9 billion as most stocks listed remained undervalued.
Also, the stock market the benchmark index, NSE All Share Index (ASI) dropped by 364.19 basis points or 1.26 per cent close the week at 28,847.81 basis points from 29,212.00 basis points it opened for trading.
According to data available at the NSE, the market capitalisation, which represents investors’ worth in the market, dropped by 1.26 per cent to close at N10.842 trillion from N10.979 trillion it opened for trading in the prior week.
The ASI Year-To-Date (YTD) index return dipped to 8.22 per cent from 7.06 per cent of previous week.
Market analysts opine that the week is expected to boost market liquidity as foreign and domestic investors’ interest in the capital market might increase going forward.
“Amidst expectation of the formal listing of about 4.07 billion unit ordinary shares of MTN Nigeria this week Thursday, we expect positive market reactions to this development, especially towards the tail end of the week,” GTI Securities Limited stated.
Overall, a total turnover of 1.477 billion shares worth N10.876 billion in 20,740 deals was traded this week by investors on the floor of the Exchange in contrast to a total of 1.470 billion shares valued at N15.498 billion that exchanged hands last week in 18,092 deals.
The Exchange revealed that 18 equities appreciated at price during the week, lower than 32 in the previous week. 49 equities depreciated in price, higher than 44 equities of the previous week, while 101 equities remained unchanged, higher than 92 equities recorded in the preceding week.
A total of 97,154 units of Exchange Traded Products (ETPs) valued at N1.318 million executed in 2 deals compared with a total of 1.190 million units valued at N10.967 million transacted in 12 deals two weeks ago.
Meanwhile, a total of 265 units of Federal Government Bonds valued at N281,654.91 were traded last week in 5 deals compared with a total of 14,589 units valued at N15.164 million transacted in 12 deals two weeks ago.
Sectoral analysis showed widespread negative sentiments as investors sell pressures extended in highly capitalized stocks. The NSE 30 index, which tracks the 30 most capitalized companies at the Exchange posted a negative return of 1.43 per cent for the week.
The NSE Oil & Gas the index was the biggest loser, dropped 5.3 per cent due to losses in Seplat (10 per cent) and Japaul Oil (33.3 per cent). The NSE Banking index trailed, declining 2.8 per cent as Zenith Bank (4.8 per cent), Guaranty Trust Bank (4.3 per cent,) and United Bank for Africa (3 per cent) witnessed price depreciation.


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