Eterna, Japaul, Dangote Flour, Transcorp, 57 other stocks cause N400bn market loss


In the trading week to May 25, 2018, stock investors in Nigeria equities market lost N416billion as 61 equities depreciated in price, higher than 54 equities in the preceding week.

The value of listed stocks which opened last week at a high of N14.660 trillion declined to N14.244trillion at the close of trading week in review.

Stocks that contributed majorly to the record loss are Eterna Plc which declined from week-open level of N6.78 to N5.27 at the close of review trading week, representing N1.51 or 22.27percent dip.

Japaul Oil & Maritime Services Plc came second on the top laggard lists last week after its share price decreased from 30kobo to 24kobo, representing 6kobor or 20percent decline. In the same vein Dangote Flour Mills Plc stock price lost N1.80 or 16.82percent last week, from N10.70 to N8.90; while Transnational Corporation of Nigeria Plc which opened last week at N1.59 per share decreased to N1.33, after shedding 26kobo or 16.35percent.

Aiico Insurance Plc joined the league of big losers after its share price declined from 68kobo to 57kobo, representing 11kobo or 16.18percent loss; while its counterpart Equity Assurance Plc lost 4kobo or 16percent, from week-open level of 25kobo to 21kobo.

Other stocks that recorded remarkable decline are Flour Mills Nigeria Plc which lost N5.45 or 15.59percent, from N34.95 to N29.50; FCMB Group Plc which also recorded dip from N2.60 to N2.20, after losing 40kobo or 15.38percent; Dangote Sugar Refinery Plc stock price declined from N18.80 to N16.50, down by N2.30 or 12.23percent; while FBN Holdings Plc which opened the review trading week at N11.05 lost N1.35 or 12.22percent to close at N9.70.

Aside these laggards, 14 equities appreciated in price during the review week; lower than 20 in the preceding trading week; while 94 equities remained unchanged lower than 95 equities recorded in the preceding week.

On the gainers table, Ikeja Hotel Plc stock price recorded the biggest spread of 80kobo or 44.94percent after its share price increased from N1.78 to N2.58. It was followed by MRS Oil Nigeria Plc which gained N6.30 or 21.18percent last week after its share price increased from N29.75 to N36.05.

Law Union and Rock Insurance Plc increased by 17kobo or 20.99percent, from 81kobo to 98kobo; Niger Insurance Company Plc stock price increased from 21kobo to 25kobo, representing 4kobo or 19.05percent increase. Consolidated Hallmark Insurance Plc joined the league of top gainers last week after its share price which opened at 27kobo closed at 30kobo, an increase of 3kobo or 11.11percent; Okomu Oil Palm Plc advanced from N78.40 to N85, up by N6.60 or 8.42percent.

John Holt Plc stock price increased from 52kobo to 56kobo, up by 4kobo or 7.69percent. Royal Exchange Plc stock price gained 2kobo last week, which represented 6.25percent increase from 32kobo to 34kobo.

Mutual Benefits Assurance Plc also garnered 2kobo or 6.06percent, from 33 kobo to N35; while Forte Oil Plc stock price advanced from N38.75 to N40.70, representing N1.95 or 5.03percent gain.

The stock market recorded total turnover of 1.372 billion shares worth N16.022 billion in 21,099 deals in contrast to a total of 1.457 billion shares valued at N23.666 billion that exchanged hands the preceding week in 19,674 deals.

The Financial Services Industry (measured by volume) led last week activity chart with 1.010 billion shares valued at N8.670 billion traded in 12,049 deals; thus contributing 73.62percent and 54.11percent to the total equity turnover volume and value respectively.

The Services Industry followed with 107.246 million shares worth N229.715 million in 712 deals; and Consumer Goods Industry with a turnover of 71.946 million shares worth N5.506 billion in 3,818 deals.

Trading in the top three equities–Zenith Bank International Plc, African Alliance Insurance Company Plc and Ikeja Hotel Plc (measured by volume) accounted for 276.876 million shares worth N2.939 billion in 2,112 deals, contributing 20.18percent and 18.35percent to the total equity turnover volume and value respectively.