PEOPLES DAILY, MONday, february 29, 2016
Page 21
Capital Market
NSE
Investors decry low returns on investment
Stories from Ngozi Onyeakusi, Lagos
I
nvestors of the nation’s capital market have decried low returns on investment as the market continued to record losses. Specifically, the NSE All-Share Index declined by 0.83 per cent to close at 24,228.79 basis points from 24,432.51 basis points it opened with while the Market Capitalization of listed equities as well dipped by 0.80% to close at N8.336 trillion from N8.403 trillion recorded the previous week. Similarly, all other Indices finished higher during the week, with the exception of NSE Premium Index, NSE 30 Index, NSE Banking Index, NSE Insurance Index and NSE Pension Index that depreciated by 0.83%, 3.01%, 0.35%, 2.45%, 1.25% and 1.25% respectively. Meanwhile, a turnover of 4.476 billion shares worth N11.742
billion in 14,124 deals were traded by investors in contrast to a total of 1.202 billion shares valued at N9.641 billion that exchanged hands in 13,712 deals the previous week. The Consumer Goods Industry (measured by volume) led the activity chart with 3.331 billion shares valued at N5.695 billion traded in 2,511 deals; thus contributing 74.42% and 48.50% to the total equity turnover volume and value respectively. The Financial Services Industry followed with 1.008 billion shares worth N3.752 billion in 8,730 deals. The third place was occupied by the Oil And Gas Industry with a turnover of 55.332 million shares worth N416.383 million in 1,024 deals. Trading in the Top Three Equities namely – Tiger Branded Consumer Goods Plc, FCMB Group Plc and FBN Holdings Plc. (measured by volume) accounted for 3.736 billion shares worth
N4.872 billion in 2,443 deals, contributing 83.47% and 41.49% to the total equity turnover volume and value respectively. The Nigerian Stock Exchange NSE All Share Index fell by 203.72 basis points to 24228.79 points from 2443251 traded the previous week. The NSE main board index increased by 3.50 to 1171.06 points, NSE ASeM Index rose by 2.07 to 1,207.40, NSE Consumer Goods Index 5.30 basis points to 606.73, NSE Oil and Gas index surged by 8.89 basis points to 381.76 point, NSE Lotus II went up by 10.48 to 1,690.14, NSE Industrial goods rose by 8.15 to 1811.63 Review of activity in the market showed that Twentyone (21) equities appreciated in price during the week, lower than Twenty-two (22) equities of the previous week. Thirty-five (35) equities depreciated in price, lower than Thirty-seven (37) equities of the previous week, while one hundred and thrity four (134)
equities remained unchanged, higher than one hundred and thirty one (131) equities recorded in the previous week. Seplat Petroleum led gainers table, gaining 12.40 per cent or N37.52 kobo to close at N340.00, Unity Bank followed with a gain of 11.67 per cent or N0.07 kobo to close at N0.67 kobo while Learn Africa Plc increased by 11. 11 per cent or N0.09 kobo to close at N0.90 kobo. Other companies appreciated in price were Eterna Plc 7.95 per cent, Lafarge Africa PLc 5.65 per cent, Tiger Branded Customer Goods 4.76 per cent, Cutix Plc 4.64 per cernt Ikeja Hotel PLc 4.50 kobo, Mcnihols Plc 4.24 per cent and A. G. Leventis Nigeria Plc 3.90 per cent. On the other hand, Live Stock Feeds Plc topped losers chart, shedding 12.98 per cent or N0.17 kobo to close at N1.14 kobo, Diamond Bank trailed with a loss of 12.26 per cent or N0.19 kobo to close at N1.36 kobo while
Skye Bank Plc declined by 10.19 per cent or N0.11 kobo to close at N0.97 kobo. Other firms that recorded price depreciation were Fidson Healthcare Plc 9.29 per cent, FCMB Group 9.20 per cent, neimeth Plc 8.33 per cent, Oando Plc 8.05 per cent, Fideloty Bank Plc 5.79 per cent, GTBank 5.75 per cent and Flour Mills Nigeria Plc 5.27 per cent Also traded during the week were a total of 14,844 units of Exchange Traded Products (ETPs) valued at N14.134 million executed in 29 deals, compared with a total of 93,518 units valued at N1.158million transacted last week in 48 deals. A total of 4,990 units of Federal Government Bonds valued at N5.799 million were traded in 2 deals compared to a total of 150,000 units of Federal Government Bonds valued at N169.326 million transacted last week in 2 deals.
NSE National Council renews CEO’s contract for a 2nd Five-year Term
N
igerian Stock Exchange (NSE) has announced that its National Council, has approved the renewal of contract of employment for Mr. Oscar Onyema for another term of five years as Chief Executive Officer of the Exchange effective immediately. Mr. Onyema has served as the CEO of the Exchange since April 2011 and his initial five years employment contract expires on March 31, 2016. Commenting on the renewal, President, National Council of NSE, Mr Aigboje Aig-Imokhuede, CON said “Mr. Onyema’s tenure
as CEO of the NSE is marked by outstanding achievements. The Council is confident that he can continue The Exchange’s trajectory of transformation, innovation and marketplace recognition by implementing its business strategies which he has been instrumental in developing. The leadership qualities that he has demonstrated in his first term as CEO, in the face of such intense and challenging operating environment, have been exemplary. The Council believes that his vision and passion will ensure the Exchange remains a force to be reckoned with in Africa
and beyond”. Speaking on his contract renewal, Mr. Onyema said “I am honoured to remain with The Nigerian Stock Exchange and to continue to lead our dedicated staff as we strive to achieve the Exchange’s vision. I am grateful to the Council for the opportunity to continue such an important work. While there is still much to be accomplished, the support shown by the capital market community has been inspirational, and I look forward to working with the entire ecosystem to meet our objectives. ” On assumption of the role of
CEO in April 2011, Mr. Onyema developed the strategic plan to transform the Exchange into a globally competitive brand by stabilizing and professionalizing the Exchange. Mr. Onyema led the execution of the Exchange’s transformation strategy which resulted in over 365% increase in surplus, and 40% increase in NSE Group balance sheet size for the period. He has transitioned this strategy into a five year growth plan, 2015 to 2019 which will see the Exchange increase the number of new listings across five (5) asset classes; increase order flow in
the five (5) asset classes; and operate a fair and orderly market based on just and equitable principles. In recognition of his contributions to Nigeria’s economic development and transformation of Africa’s capital markets he was elected President of African Securities Exchanges Association (ASEA) in November 2014, demonstrating recognition and acceptance within the African region; and Chairman of West African Capital Markets Integration Council (WACMIC) for 2013 -2015, demonstrating sub regional pull and influence.