Equities listed on the Nigerian Stock Exchange(NSE) have shed N401.1 billion from their market capitalisation in the month of August alone, an indication of the extent of beating quoted stocks have received from uninspiring market sentiments. Since, we have only traded for just ten days in this month, it means that investors lost an average of N40 billion daily.
The All Share Index(ASI) continued its downward trend as it closed last weekend at -14.33 which translated to 26,925.29 points. The last time the All Share Index was at this level was between May 3 and 9, 2019 when it hovered between 26,116.79 and 26,756.21 points.
All but one sub sectoral index is spared. Equities listed in the consumer goods sub sector are the worst performing. This is because year to date, the NSE Consumer Goods Index has shed -31.99 percent as it closed at 509.27 points last Friday. The NSE Meri Value Index ended the period at -30.91 percent translating to 1,011.75 points. The NSE Oil and Gas index closed at 27.62 percent while main Board, NSE 30, Corporate Governance closed at -26 percent year to date.
Meanwhile, C & I Leasing maintained its lead on the gainers’ table as its share price has appreciated by 248.3 percent YTD to close at N6.20 per share last weekend. Dangote Flour closed at N20.65 per share having appreciated by 201.5 percent YTD. MTN Nigeria has gained 50 percent since listing on the NSE as last Friday, its share price closed at N235 per share. BOC Gas appreciated YTD by 45.4 percent to close at N6.12 per share.
Sterling Bank, at 27.4 percent YTD appreciation, and Union Bank at 25 percent YTD appreciation, topped all the stocks listed under the financial services sub sectors. The former closed at N2.42 per share while the latter closed at N7 per share respectively.
The five worst performing stocks year to date are Total Nigeria which closed last Friday at N105.80 per share representing -47.9 percent YTD change; PZ, N6 per share representing N-50.4 percent YTD change; UACN, N4.50 per share, representing -53.8 percent YTD change; ETI, N6 per share, representing N-57.1 percent YTD decline; and International Breweries at N12 per share, which amounted to 60.7 percent YTD decline.
TELIAT SULE
