UAC Nigeria and Airtel Africa equity prices declined on the Nigeria Stock Exchange last week by 11 per cent and 10 per cent respectively. UAC Nigeria opened at N10.90 and closed at N9.70 and Airtel Nigeria opened at N837 and closed at N753.30.
Other top decliners on the stock exchange were Abbey Mortgage Bank which declined by 9.52 per cent, Consolidated Hallmark Insurance which declined by 9.52 per cent. Okomu Oil Palm dropped by 9.44 per cent, Veritas Kapital Assurance fell by 8.33 per cent, Japaul Gold and Ventures declined by 7.41 per cent, Stanbic IBTC Holdings declined by 4.88 per cent, Chams declined by 4.76 per cent and Livestock Feeds declined by 4.74 per cent.
The top three equities that gained on the exchange floor included Berger Paints, Lasaco Assurance and Champion Brewery which gained by 14.93 per cent, 10.29 per cent and 10 per cent respectively. Berger Paints opened at N6.70 at the beginning of the week and closed at N7.70, Lasaco Assurance opened at N1.36 and closed at N1.50 while Champion Brewery opened at N1.80 and closed at N1.98. Other top gainers are Morison Industries by 9.68 per cent, Red Star Express by 8.06 per cent, Learn Africa by 8 per cent, Honeywell Flour Mill by 6.06 per cent, Royal Exchange by 5.88 per cent, Cornerstone Insurance by 5.45 per cent and Access Bank by 4.27 per cent.
In all, 38 equities appreciated in price during the week and 25 equities depreciated while 93 equities remained unchanged. The All-Share Index reduced by 1.3 per cent and market capitalization depreciated to N20.143 trillion which meant that investors lost N266 billion. The NSE said, “The Financial Services Industry (measured by volume) led the activity chart with 695.803 million shares valued at N5.178 billion traded in 8,616 deals; thus contributing 70.92% and 49.86% to the total equity turnover volume and value respectively. “The Consumer Goods Industry followed with 75.879 million shares worth N1.227 billion in 2,263 deals.
The third place was Conglomerates Industry, with a turnover of 67,430 million shares worth N367.306 million in 612 deals. “Trading in the top three equities namely Zenith Bank Plc, Sterling Bank Plc and Wema Bank Plc (measured by volume) accounted for 265.649 million shares worth N2.450 billion in 2,742 deals, contributing 27.08% and 23.60% to the total equity turnover volume and value respectively.”