NSE market cap sheds N23.4billion, records 22.3% plunge February

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Transactions on the floor of the Nigerian Stock Exchange (NSE), on Thursday, March 23, remained closed flat following the unchanged abysmal trade from previous trading session.

As such, the All share index closed 25,514.03 points while the market capitalization depreciated by N23.4 million to steady at N8.827 trillion.

The Bourse Price Movement chart showed 20 stocks advanced while 14 declined with Lafarge (WAPCO) sitting atop the the day’s gainers with 8.47 percent to close at N41 per share.

Learn Africa Plc followed with a growth of 4.62 percent to close at 68 kobo per share, Livestock Feeds scooped 4.55 percent to close at 69 kobo.

Sterling Bank appreciated 4.23 percent to close at 74 kobo while Fidson Health Care Pharmaceuticals completed the day’s five top gainers with an increase of 4.12 percent to close at N1.01 per share.

Conversely, Seplat led the day’s losers with 9.73 percent to close at N359.28 per share, Guinness was next with a decline of 4.21 percent to close at N60.

Africa Prudential Registrars fell 3.77 to close at N2.30 per share while Access Bank and Nascon Allied Industries dropped 3.58 and 2.95 percent each to close at N5.93 and N6.91 per share respectively.

Meanwhile, NSE Monthly Domestic and Foreign Portfolio equity participation report showed that its total transactions plunged 22.5 percent or N21.2 billion in February, National Daily findings has shown

The report showed that total transactions for the period ended 28th February 2017 declined from N95.32 billion recorded in January 2017 to N74.11 billion.

Cumulative transactions (Year to date) also slowed to settle at N169.4 billion from N201.4 recorded in 2016, representing a decline of 15.9 percent.

In spite of a 22.88 percent decrease in domestic transactions from N51.31 billion recorded in January 2017 to N39.57 billion in February 2017, the report stated that domestic investors outperformed foreign investors by 6.78 percent.

Foreign transactions also decreased by 21.52 percent from N44.01 billion to N34.54 billion within the same period. Foreign inflows and outflows were reduced as a 28.79 percent decrease in foreign inflows from N22.61 billion in January 2017 to N16.10 billion in February 2017 was recorded.

Foreign outflows also decreased by 13.83 percent from N21.40 billion in January 2017 to N18.44 billion in February 2017.

A further analysis of the composition of transactions at the exchange showed that the institutional composition of the domestic market decreased by 21.93 percent from N31.19 billion recorded in January to N24.35 billion in February 2017.

The retail composition also decreased by 24.35 percent from N20.12 billion to N15.22 billion within the same period, indicating a more active participation by institutional investors over their retail counterparts in the period under review.