Nigeria Stock Exchange: Return on Equity Investment slips further

nigerian_stock_exchange
Nigeria Stock Exchange trading floor

Returns on equity investments on the Nigerian Stock Exchange, NSE, nosedived further in the outgone week by 1.81 per cent, as investors and other financial stakeholders wait for the nation’s fiscal policies.

The Central Bank of Nigeria in the outgone week reduced the Monetary Policy Rate to 11 per cent from 13 per cent while the Cash Reserve Ratio was pegged at 20 per cent from 25 per cent.

Monetary Policy Ratio is the basic lending rate while Cash Reserve Ratio is a monetary policy tool used to set the minimum deposits commercial banks must hold as reserves, compared with volume lent out at any given period.

At the close of the week’s transactions ended November 27, 2015, the NSE All-Share index dipped by 1.83 per cent to close at N27,617.45 points while Market Capitalisation or value of listed equities also fell by 1.81 per cent to close at N9.50 trillion.

StanbicIBTC led the price losers table with N1.23 to close at N17.20 per share. Zenith International Bank’s share price depreciated by N1.10 to close at N15.40 while Oando lost N50k to close at 5.70 per share. Tiger Branded Consumer Goods lost 33k to close at N17.65 while Honeywell Flour share price fell by 22k to close at N9.57.

Earlier, Unilever led the price gainers with N3.52 to close at N9.68 per share. P.Z Industries share price appreciated by 88k to close at N27.13 while First Bank of Nigeria Holding gained 45k to close at N5.45 per share.

Ikeja Hotel gained 40k to close at N3.66 per share while Portland Paints share price appreciated by 32k to close at N2.80.

Analysis of the weekly trading showed that Financial Services Industry dominated with 857.05 million shares worth N6.77 billion exchanged in 7,916 deals.

The Consumer Services Industry followed with 64.55 million shares valued at N4.22 billion in 2,479 deals while the Conglomerates Industry accounted for N585.66 million staked on 62.75 million shares in 638 deals.

A further breakdown of activities in the financial services sub-sector indicated that First Bank Nigeria Holdings, Zenith International Bank and Diamond Bank accounted for 477.12 million shares valued at N3.68 billion in 3,026 deals.

Overall investors’ bought 1.04 billion shares worth N13 billion and traded in 13,407 deals compared with the previous week’s trading profile of N7.15 billion committed on 793.56 million shares in 12,831 deals.

In the week under review, 8,262 units on Federal Government bonds valued at N9.15 million were also traded.

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