The President of Independent Shareholders Association of Nigeria (ISAN), Mr Boniface Okezie, on Monday described the capital market as critical to economic development and wealth creation.
Okezie who made the observation in an interview in Lagos, added that the capital market should be effectively explored for economic development.
“In spite of the challenging economic conditions in Nigeria, the capital market still remains one of the main vehicles for economic development and wealth creation,” he said.
Okezie said that the down turn being experienced in capital market were due to economic uncertainties, profit-taking by investors and end of year factors, among others.
“It is in the nature of capital market to fluctuate. When we talk about market data, we refer to the pre and post trade-related data of the financial instruments traded on the Nigerian Stock Exchange (NSE).
“NSE market data inform traders, investors, media and others in the market on quotations, latest price and historical trends of equities, fixed-income and ETF products that are traded on its platform.
“This information is not only used in real time to make instantaneous buy and sell decisions; the historical data are used to make price projections as well as calculate market risk on investment portfolios,” he said.
Okezie expressed the need for periodic seminars and workshops to provide capital market participants with sufficient knowledge about NSE market data for smart investment decisions.
960.940 million shares worth N18.329 billion were traded by investors in 16,896 deals on the Nigeria Stock Exchange (NSE) last week.
These were against 892.725 million shares valued at N13.075 billion exchanged in 15,607 deals in the preceding seeking.
The Financial Services Industry (measured by volume) led the activity chart with 774.087 million shares valued at N9.244 billion traded in 10,637 deals.
The Conglomerates followed with 54.805 million shares worth N80.062 million in 740 deals.
The Consumer Goods Industry had a turnover of 43.013 million shares worth N3.341 billion in 2,468 deals.
The All-Share Index lost 1710.32 points or 5.02 per cent to close at 32,327.59 against 34,037.91 posted in the preceding week.
Also, the market capitalisation, which opened at N12.426 trillion shed N624 billion or 5.02 per cent, to close at N11.802 trillion. (NAN)
Profit taking: NSE market capitalisation drops by N46bn
Activities on the Nigerian Stock Exchange (NSE) on Monday maintained the downward trend with the market capitalisation shedding N46 billion due to profit taking by investors.
The market capitalisation lost N46 billion or 0.39 per cent to close at N11.756 trillion from the N11.802 trillion achieved on Friday.
The All-Shares Index, which opened at 32,327.59, also dropped 125.61 points or 0.39 per cent to close at 32,201.98 following price losses by some blue chips.
Nestle recorded the highest price loss of N20 to close at N1,350 per share.
Guinness lost N1.90 to close at N86, while Mobil Oil dipped by N1 to close at N179 per share.
GTBank lost 80k to close at N33.95, while Stanbic shed 75k to close at N41.50 per share.
Conversely, Forte Oil led the price gainers’ table, gaining N1.50 to close at N19 per share, while Access Bank followed with a gain of 30k to close at N8.10.
Zenith Bank appreciated by 20k to close at N20.25, while Flour Mills added 15k to close at N19.15 per share.
Access Bank emerged the investors’ delight as its 24.01 million shares worth N288.41 million were traded in 127 deals.
GTBank followed with 23.69 million shares valued at N170.84 million traded in 216 deals, while Zenith Bank traded 10.32 million shares worth N781.12 million in 261 deals.
International Breweries had 6.91 million shares valued at N195.59 million traded in 13 deals, while FBN Holdings transacted 6.91 million shares worth N57.28 million in 200 deals.
The volume of shares traded closed lower as 160.67 million shares valued at N2.15 billion were traded in 2,935 deals.
This was in contrast to the 252.19 million shares worth N4.73 billion exchanged in 3,120 deals on Friday. (NAN)