If you have shares in Nigeria’s Capital Market, chances are that the amount of money you bought your shares a few weeks ago, is no longer what the price is today.
Share prices are going down.
Investors of the Nigerian Exchange Limited at the close of trade last week lost ₦13 billion, as the equities market over the weekend indicated a decline of 0.04%, equivalent to net capital depreciation of ₦13 billion.
The All Share Index (ASI) index dropped from 54,915.61 points which it started the week with to close the weekend at 54,892.53 points.
The New Interest Rate
The 50 basis point increment added to the Monetary Policy Rate (MPR) by the Central Bank of Nigeria (CBN) also affected trade and gave rise to the loss.
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Investors realigning their portfolios on the heels of the increase in Monetary Policy Rate (MPR) by the Central Bank of Nigeria (CBN).
Aggregate market value of all quoted equities also declined from its opening value of ₦29.916 trillion to close the weekend at ₦29.903 trillion.
The negative overall market position was driven by losses suffered by large and mid-cap stocks, especially within the industrial goods and consumer goods sectors.
The NGX Consumer Goods Index recorded the highest depreciation of 0.74%.
Also, the NGX Insurance Index dropped by 0.53%. The NGX Industrial Goods Index dipped by 0.49% while the NGX Oil and Gas Index closed flat.
Meanwhile, the NGX Banking Index rose by 0.93% just as the NGX Pension Index appreciated by 0.16%.
There were 28 gainers to 27 losers during the week compared with 19 gainers and 47 losers recorded in the previous week.
Gainers Table
On the positive side, Sunu Assurances Nigeria rose by 9.09% to close at 48 kobo.
LASACO Assurance followed with a gain of 7.14% to close at ₦1.05. NPF Microfinance Bank rose by 6.94% to close at ₦1.85.
Geregu Power added 6.25% to close at ₦323 while Transcorp Hotels rallied 6.15% to close at ₦6.90 per share.
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Total turnover stood at 1.689 billion shares worth ₦11.066 billion in 14,019 deals as against 853.745 million shares valued at ₦11.841 billion traded in 18,543 deals two weeks ago.
Losers Table
NCR Nigeria recorded the highest loss, in percentage terms, with a drop of 18.69% to close at ₦2.35.
Ikeja Hotels trailed with a loss of 18.25% to close at ₦1.03.
International Breweries lost 6.45% to close at ₦4.35.
Cadbury Nigeria dropped by 5.83% to close at ₦11.30 while Multiverse Mining and Exploration declined by 5.80% to close at ₦3.25 per share.
