Stock Investors Lose N49bn Last week

• Stock Investors Lose N49bn Last week

The Nigerian Stock Exchange (NSE) extended its decline slightly last week despite the strong third-quarter performance.

The NSE All-Share Index declined by 0.38 percent from 26,448.62 it closed in the previous week to 26,348.73 last week.

While the market capitalization of listed equities dipped by N49 billion from N12.875 trillion to N12.826 trillion.

The activity level was largely mixed as the volume traded rose to 2.051 billion shares valued at N16.126 billion in 13,508 deals against a total of 896.610 million shares worth N16.561 billion that was traded in 12,638 deals in the previous week.

In terms of volume, the financial services led activity again with 1.784 billion shares valued at N12.588 billion transacted in 8,469 deals.

The conglomerate industry followed with 98.429 million shares valued at N120.779 million in 444 transactions, while the construction/real estate came third with a turnover of 57.873 million shares worth N66.019 million in 90 deals.

Accordingly, Omoluabi Mortgage Bank Plc, Zenith Bank Plc and Transnational Corporation of Nigeria led the most traded stocks by volume with a combined 1.388 billion shares valued at N9.067 billion in 2221 transactions.

During the week, Okomu Oil Palm proposed N2:00k dividend for the period ended 30, September 2019.

Shareholders with their names on the company’s register book on Wednesday 31, October 2019 will be paid by Monday 11, November 2019.

Also, Airtel Africa Plc proposed $0.03 for the period ended 30 September 2019. The company’s qualification date for shareholders is Friday 15 November 2019 with Monday 18, November as closure date. Payment will be done on Friday 29 November 2019.