Investors lose N13.9 billion on the NSE during the week

The equity market continued in its bearish run for the 7th consecutive week as the All-share index dipped by 0.69% to close at 38,382.39 points on 19th, March 2021.

Over the week, 33 stocks appreciated in value, 2 stocks lower than the number recorded in the prior week. While a total of 25 stocks depreciated in value, lower than the 38 recorded in the previous week, the remaining 104 stocks remained unchanged in the course of the week.

Equity Market PerformanceThe NSE All-Share Index depreciated by 0.69%, closing the week at 38,382.39 points. The total market capitalisation also depreciated from N20.221 trillion in the prior week to N20.082 trillion on Friday, thus resulting in a loss of N13.9 billion in the week.

Other indexes in the market however finished higher, with the exception of NSE Mainboard, NSE 30, NSE Insurance, NSE Consumer Goods, NSE Lotus II, NSE Industrial and NSE Growth Indices. The appreciating indices are:

NSE CG Index: +0.83%NSE Premium Index: +0.52NSE Banking Index: +2.09%NSE Pension Index: +0.55%NSE AseM Index: +0.06%NSE-AFR Bank Value Index: +2.30%NSE AFR Div Yield Index: +3.14%NSE MERI Growth Index: +0.21%NSE MERI Value Index: +1.88%The Financial Services industry topped as the most actively traded sector during the week with 1.89 billion shares valued at N12.45 billion in 12,019 deals. Trading activities in just the financial services industry accounted for 80.6% of the total equity volume traded during the week.

The high trading activity in the financial services industry can be traced to the high trading of Unity Bank Plc and Guaranty Trust Bank Plc which were the top 2 most traded stocks during the week.

The natural resources industry followed on the activity chart with 201.26 million shares worth N41.30 million traded in 27 deals. Total volume traded in the industry accounted for 8% of the total volume traded on the NSE during the week. This high trading can also be traced to the large trading of Multiverse Mining and Exploration Plc during the week.

Following the dividend announcement by Africa Prudential Plc and Dangote Sugar Refinery Plc on 2nd and 1st of March respectively, the stocks marked their share price down during the week:

Some of the top gainers and losers in the market during the week are shown below:

Exchange Traded Products (ETPs)More Exchange Traded Funds (ETFs) were traded during the week as 7 ETFs were traded namely NEWGOLD, VETGRIF30, VSPBONDETF, VETINDETF, MERGROWTH, VETBANK and VETGOODS when compared to the 3 ETFs traded in the prior week.

A total of 435,459 units valued at N2.35 billion were traded through 29 deals in the week. This is 100% and 63,458% higher than the total volume and value traded in the prior week.

The remaining 5 ETFs listed on the NSE were not traded during the week.

Fixed Income Securities MarketOn Thursday, 18 March 2021, 162.56 units of the FGN Roads Sukuk Company 1 Plc’s 7 – Year 11.200%, Ijarah Sukuk Bond due 2027 were listed on the NSE. The Sukuk bond was priced at N1,000 per unit and the minimum initial subscription stood at 10 units. Multiples of N1,000 (1 unit) can be purchased thereafter.

A total of 295,829 units of bonds valued at N304.859 million were traded during the week through 20 deals. This is 3,118% and 2,757% higher than the recorded volume and value of bonds traded in the prior week.

The bonds traded during the week are FGSUK2027S3, FGS202164, FGS202261, FG152023S3, and FGSUK2024S1.