Forte Oil, Okomu, Neimeth, other stocks dip NSE ASI week-on-week

Week-on-week (w-o-w), the value of listed Nigerian stocks depleted by N70billion, driven majorly by remarkable share price losses by Forte Oil Plc, Okomu Oil Palm Plc, Neimeth International Pharmaceuticals Plc, and Airline Services And Logistics Plc.

Also on the top laggard list included UACN Property Development Company Plc, Total Nigeria Plc,  Nascon Allied Industries Plc, Julius Berger Nigeria Plc, Eterna Plc, and Stanbic IBTC Holdings Plc.

In the trading week to November 25, Forte Oil Plc stock was topmost on the weekly loss basket after its price declined by N19.87 or 24.04percent, from N82.67 to N62.80.  Okomu Oil Palm Company Plc followed after its share price decreased by N5.80 or 13.81percent, from N42 to N36.20.

Also, Neimeth International Pharmaceuticals Plc lost 11kobo or 12.79percent, from 86kobo to 75kobo; while the share price of Airline Services And Logistics Plc declined by 36kobo or 11.88percent week-on-week from N3.03 to N2.67.

Twenty-six (26) equities depreciated in price, lower than forty-eight (48) equities in the preceding week, while one hundred and twenty-eight (128) equities remained unchanged higher than one hundred and twenty-three (123) equities recorded in the preceding trading week.

The Nigerian equities market which opened for trade last week with value at N8.791trillion closed at N8.721trillion. The Nigerian Stock Exchange (NSE) All-Share Index (ASI) depreciated from week-open highs of 25,537.54 points to close 25,333.39 points, a decline of 0.80percent.

UACN Property Development Company Plc lost 33kobo or 11.79percent after its share price declined from N2.80 to N2.47.  Total Nigeria Plc lost N30.18 or 10.93percent of its week-open value from N276.03 to N245.85.

The share price of Nascon Allied Industries Plc recorded weekly declined from N7.55 to N6.84, down by 71kobo or 9.40percent. Julius Berger Nigeria Plc also lagged from N38 to N35, it lost N3 or 7.89percent.

Eterna Plc was down from N3.09 to N2.85, losing 24kobo or 7.77percent; while the shares of Stanbic IBTC Holdings Plc lost N1.15 or 7.28percent, from N15.80 to N14.65.

Twenty-seven (27) equities appreciated in price, higher than ten (10) equities in the preceding trading week.

The share price of Flour Mills Nigeria Plc gained most after its share price increased from N16.20 to N19.49, adding N3.29 or 20.31percent.  Africa Prudential Registrars Plc increased from N2.55 to N2.92, adding 37kobo or 14.51percent.

Fidson Healthcare Plc rose from N1.24 to N1.40, adding 16kobo or 12.90percent. Unity Bank Plc rose from 54kobo to 59kobo, adding 5kobo or 9.26percent. Champion Breweries Plc share price gained 19kobo or 8.41percent, from N2.26 to N2.45.

Mobil Oil Nigeria Plc increased from N195 to N208.97, adding N13.97 or 7.16percent. Diamond Bank Plc appreciated from 89kobo to 95kobo, adding 6kobo or 6.74percent. Transcorp Hotels Plc gained 26kobo or 4.95percent, from N5.25 to N5.51. Cutix Plc share price rose from N1.89 to N1.98, adding 9kobo or 4.76kobo; while the share price of National Aviation Handling Company Plc gained 10kobo or 4.27percent, from N2.34 to N2.44.

All other Indices finished lower during the week in review with the exception of the NSE Banking and NSE Consumer Goods Indices that appreciated by 0.02% and 0.42% respectively while the NSE ASeM Index closed flat. The stock market recorded a turnover of 639.43million shares worth N6.455 billion in 11,799 deals in contrast to a total of 823.54million shares valued at N5.444 billion that exchanged hands the preceding trading week in 11,634 deals.

Trading in the top three equities namely – Access Bank Plc, Diamond Bank Plc and Transnational Corporation of Nigeria Plc (measured by volume) accounted for 210.407 million shares worth N527.918 million in 1,316 deals, contributing 32.91% and 8.18% to the total equity turnover volume and value respectively.

The Financial Services Industry (measured by volume) led the activity chart with 491.758 million shares valued at N2.211 billion traded in 6,241 deals; thus contributing 76.90% and 34.25% to the total equity turnover volume and value respectively.

The Conglomerates Industry followed with 64.507 million shares worth N58.500 million in 681 deals; and the Consumer Goods Industry with a turnover of 54.901 million shares worth N3.307 billion in 2,386 deals.

 

Iheanyi Nwachukwu