August: NGSE Capitalisation Sheds N687.33bn In Sustained Bear Run

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Another bloody month ended on Friday, as investors’ worth, measured by the market capitalization of the Nigerian Stock Exchange (NSE) for the month of August, suffered further decline, after heavy weight stocks such as Dangote Cement, the biggest on the bourse, as well as Nestle, the highest priced recorded heavy losses.
The worth of stocks listed on the NSE fell by N687.33bn, or 5.13% from N13.409tr at the end of July, to N12.722tr on Friday; just as the All-Share index shed 2,169.33 basis points or 5.86% to 34,848.45bps, compared to 37,017.78bps.
All of the sectoral indices closed red, except for the ASeM, which remained unchanged at 809.92bps.
The biggest decline was suffered by the banking index, which lost 13.72%; followed by the NSE Corporate Governance index, with 7.84%; while Consumer Goods shed 6.84%; and Industrial Goods, 6.35%. The NSE 30 index declined by 6.23% during the month; the Mainboard slipped by 6.22%; insurance, 5.99%; oil and gas, 5.69%; Premium Board, 5.31%; and NSE Lotus Islamic Index, 0.34%.
In absolute terms, Nestle lost N100 or 6.25% per share for the month; Seplat Petroleum Development Company followed with N54; it was followed by the NSE’s biggest companies by capitalization- Nigerian Breweries, N7.10; and Dangote Cement, N6 each. Chemical & Allied Products closed N6.65 lower; Forte Oil, N5.05; International Breweries, N5.00; Flour Mills, N4.40; Guaranty Trust Bank, N4.05; Lafarge Africa, which shed N4; Glaxo Smithkline, N3.90; and Unilever Nigeria, N2.55 per share. Zenith Bank dropped N2; Stanbic IBTC Holdings slipped N1.75 lower; United Bank for Africa, N1.55; Berger Paints, N1.45; FBN Holdings, N1.30; Dangote Sugar Refinery, N1.15; UACN, N1.10; just as Guinness Nigeria and Aluminium Extrusion Industry lost N1.00 each. Ikeja Hotels lost 86 kobo; Dangote Flour Mills, 80 kobo; Norther Nigeria Flour Mills, 70 kobo; Cadbury Nigeria, 65 kobo; Ecobank Transnational Incorporated, 55 kobo; Access Bank, 50 kobo; Oando, 45 kobo; Cutix, 42 kobo; and Red Star Express, 40 kobo; among others.
On the gainers’ side, Total Nigeria took the lead with N6.70; followed from afar by Okomu Oil Palm, N2.25; beta Glass, N1.05; and Newrest ASL, N1; Portland Paints & Products climbed 93 kobo up; ahead of Eterna, 70 kobo. Presco gained 50 kobo; N.E.M Insurance, 45 kobo; among others.

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