Nigerian Equities market closed in red on Thursday for the third consecutive session of the week and the year 2017. The bearish run, brings to total N139.3 billion lost by investors in three days.
Tracking the performance of the market, equities descended further as the Nigerian Stock Exchange’ All Share Index (NSEASI) and Market Capitalization dropped 1.07 percent.
The ASI shed 282.95 points on Thursday to settle at 26,212.09 points while the market capitalization dropped N97.4 billion to settle at N9.019 trillion.
Overall investor sentiment however improved as 17 gainers were paired against 16 losers,
UAC Prop led the day’s advancing stocks by 7.29 percent to close at N3.09 per share, Oando dropped 5.58 percent to close at N4.54 per share, Access Bank grew 4.96 percent to close at 6.14 per share, Diamond Bank Appreciated 4.65 percent to close at 90 kobo per share and Eterna Oil Plc gained 4.58 percent to close at N3.20 per share.
On the other hand Nigerian Aviation Handling Company Plc led the day’s 16 declining stocks with a decline of 9.49 percent to close at N2.86 per share, Guinness followed with a loss of 5.00 percent to close at N78.90 per share, Dangote Flour fell 4.94 percent to close at N4.04 per share, Custodian Allied Insurance depreciated 4.88 percent to close at N3.70 per share and Caverton Offshore dropped 4.44 percent to close at 86 kobo per share.
The day’s transactions were executed in 2,249 deals which represents a growth of 4.60 percent against previous session’s 2,150 deals. Investors also moved 137.7 million unit of equities in contrast to previous session’s 602 million unit.
Value of equities traded for the day dropped by 40 percent from previous session’s N1.204 billion to N898.7 million which was recorded for the day.
Top traded stocks in the course of the day were Fidelity Bank with 25.1 million units of shares valued at N21 million. Diamond Bank followed with approximately 17 million shares valued at N15.3 million while UCAP traded 11.0 million shares worth N31.8 million.
Transcorp traded 10.9 million shares for N9.7 million and UBA emerged the fifth most traded stock with 9.7 million shares worth N44.8 million.
Meanwhile, the NSE’s Total Deal in November dropped by 41.20 percent. The Nigerian Stock Exchange (NSE) monthly report on Domestic and Foreign Portfolio Participation in Equity trading for the month of November, released recently has shown significant decrease of 41.20 percent in total transactions at the bourse.
Total transactions value slightly increased by 0.56 per cent from N64.03 billion recorded in October 2016 to N64.39 billion (about $0.21 billion) in November 2016.
The report noted that transactions from January to November 2016 decreased from N1, 795.07 billion recorded within the same period in 2015 to N1, 055.50 billion in 2016.
FPI transactions have been on a downward trend from August 2016. In November 2016, domestic investors outperformed their foreign counterparts by about 9.46 percent”. The NSE said.
Domestic transactions increased by 7.47 percent from N32.79 billion in October 2016 to N35.24 billion in November 2016. FPI transactions decreased by 7.17 percent from N31.24 billion in October 2016 to N29.15 billion in November 2016.
Monthly foreign outflows outpaced inflows as foreign inflows decreased by 22.17 percent from N18.67 billion in October to N14.53 billion in November 2016. Foreign outflows increased by 16.31 percent from N12.57 billion to N14.62 billion within the same period.
On a monthly basis, The Nigerian Stock Exchange polls trading figures from major custodians and market operators on their foreign portfolio investments (FPI).