GBOLABO AFUWAPE
The declining performances of highly capitalized stocks such as Dagote cement, Nigerian breweries, First bank of Nigerian Holdings, Zenith bank among others saw the Nigerian bourse declined Wednesday by 2.12 percent.
MAIN MARKET INDEXES
In the course of the day’s trainings, the equities market lost 701.61 points which equates to N26 billion to see the all share index close at 32,466.27 points while the market capitalization closed the day’s trading at N11.853 trillion.
The Nigerian equities market witnessed declined volatility on Wednesday. Resultantly, all the main market indexes declined with total deals dropping by 6.06 percent to 3,211 trades recorded, aggregate volume by 31.26 percent to close at 212.509 million equities while aggregate value declined by 37.19 percent to amount to N3.765 billion recorded in the day.
Of all the sectoral divisions in the floor of the exchange, only oil and gas grew, recording a marginal 0.07 percent growth. NSE 50 declined by 2.52 percent, closing at 1,684.28 points; industrial goods declined by 2.04 percent, closing at 1,435.11 points; Consumer goods declined by 1.56 percent, closing at 723.54 points and Insurance sector declined marginally by 0.39 percent to close the day’s trading at 123.49 points.
GAINERS
The decline recorded in the day could be traced to profit taking by market players thanks to skepticism of further improved stock performances as the over half of quoted companies have published their 2018 third quarter financial report. As a result, market players took profit on 177.439 million equities valued at N3.363 billion exchanged hands in 2,319 deals which involved 30 stocks.
LOSERS
The most traded stocks in the day were those of Guaranty Trust bank with 43.586 million, Zenith bank with 29.564 million and First City Monument Bank (FCMB) with 22.186 million.
THE TEN BEST TRADED STOCKS
Those of Zenith bank with 291, First bank of Nigeria Holdings with 267 and Guaranty Trust bank with 196, recorded the most deals in the day. While those of Guaranty Trust bank with N1.635 billion, Zenith bank with N0.696 billion and Nigerian Breweries with N0.573 billion recorded in the day.
Continentally, the equities investment in Africa recorded a marginal growth. Just as it occurred in the Nigerian bourse, trading activities on the floor of the Ghanaian stock exchange saw it shrink by 1.07 percent on Wednesday, with a Year-to-date (YtD) of 6.40 percent and a Price to earnings (P.E.) ratio of 22.88x. Nairobi stock exchange also shrank, losing 0.59 percent to peg its YtD at 15.68 percent with a P.E. Ratio of 11.75x.
Whereas, South Africa stock exchange grew by 3.24 percent in the day to peg its YtD at 11.94 percent with a P.E. Ratio of 15.38x. Egyptian stock exchange grew also, gaining 0.73 percent to peg its YtD at -11.78 percent at a P.E. Ratio of 8.73x.Mauritius stock exchange closed Wednesday’s trading largely flat as at it grew only by marginal 0.02 percent to peg its YtD at 1.7 percent with a P.E. Ratio of 23.33x.
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