THE equities market is still experiencing some disquiet even as transaction value continues to plummet over what stocks experts have termed investors apathy to investing in stocks in recent times.The three days trading last week was a departure from what the market looked like at the close of transaction the previous week when the market deepened by above 200 billion; this loss in the week was mitigated by the two-day holidays.The value drop in all the parameters of measurement of activities in the market for the week can be hinged on the market still being a seller one, as supply of shares continued to outweigh the mandate for the purchase of stocks.Notwithstanding the posture of the market in terms of transaction activities, investors' confidence which should serve as the life wire in the market is still much at its lowest ebb just as many do not want anything to do with the stock market for now.Why the regulators appear to be scoring some points in the area of trying to put machinery in place as regard regulations to properly position the market in line with international best practices, the moral side that is expected to jump-start interest in the market is missing.Investors apathy to banks' sharesThe recent nationalisation of the three banks is still having its untold effect on trading in the market, especially on shares of listed banks, as apathy towards investing in them weigh majorly on the negative trajectory.If permutations by experts are correct, the banking industry will have to wait for close to five years for them to begin to enjoy ratings from internationally accredited rating agencies. By implication, and considering the present state of health of the banks listed on the Exchange, investing in them is still a very high risk.And with a market whose recent investigation has shown that investment in the stock market has deepened by almost N2 trillion since May this year, the restructuring in the securities market should have allowed for investors moral persuasion as well as promise of incentives that will help in cushioning their sufferings to the barest minimum.But, the regulators position, including the NSE which is a self regulatory body, is centered on clearing the mess in the market as well as providing a platform for investors to thrive on while investing in the market without necessarily taking into consideration whether the investors and other stakeholders in the market are tagging along.Need for liquidity to resurfaceThe urgent need for injection of fund into the stock market which should be channelled towards purchasing of stocks must be encouraged if trading in the stocks market is to be enhanced.This new lease of breath, though will be attended with profit taking which characterises activities during capital appreciation in the market, will do both local and institutional investors ( foreign investors) lots of good as it drives activities in the equities market even as the value of investment in the market will rise again.Investors, especially those outside the shore of the country, according to finding, are beginning to take position on virtually all the listed stocks but with much emphasis through their brokers on banks stocks.Further findings revealed that the investors are of the believe that with the banks coming up with a sound bottom line devoid of non-performing loan, they are bound to return to more profitability even as their stocks is set to chalk up in value following the regulation in the financial sector aimed at galvanising transparency and credibility.However, the stability of the market will no doubt in due course experience some hip cuff due to some investors who may want to catch in on the climbing in the prices of shares in the market.Market experts had reasoned that while the liquidity inflow in the stock market lasts and coupled with the determination of the new Chief Executive Officer of the NSE to make transparency and sound corporate governance his watchword, confidence by investors in the market will continue to grow.Equity trading in the weekInvestors' wealth on the NSE on Monday went down again by 2.2 per cent after some blue-chip companies suffered huge loss in the prices of their shares.At the close of trading in the day, the twin market indicators, the market capitalisation and the All-Share Index depleted by N153 billion and 497.3 basis points to close at N6.876 trillion and 21,497.61 points respectively.A further review showed that while 10 companies pitched their tent on the gainers chart, 26 others were on the laggard.Nestle topped the gainers chart with 99kobo to close at N402.00 per share. Okomu Oil followed with 49kobo to close at N17.50 per share. UPL added 19kobo to close at N4.08 per share while NCR gained 19kobo to close at N4.12 per share.Roads, Ecobank, National Salt Company of Nigeria garnered 17kobo, 13kobo and 10kobo to close at N3.64, N2.99 and N4.60 per share, respectivelySterling Bank and Presco gained five kobo and two kobo to close at N1.45 and N7.50 per share. Capital Hotel also added two kobo to close at N7.62 per share.However, Dangote Cement emerged the day's loosers chart with 555kobo to close at N105.56 per share. Flour Mills followed with 150 kobo to close at N80.00 per share.Other loosers of Friday's transactions include PZ Cussons, Nigerian Breweries, Dangote Flour Mills, shedding 100kobo, 100kobo and 53kobo to close at N30.00, N82.00 and N10.11 per share.Dangote Sugar and CCNN also shed 50kobo and 34kobo to close at N11.30 and N7.36 per share.The banking subsector dominated in volume terms with 7.9 million shares worth N409 million in 1,939 deals.The insurance subsector followed with 4million units worth N3.2 million.On the whole, investors exchanged 161million shares worth N757million in 3,215 deals.The second trading day on Thursday at the resumption of activities on the floor of the NSE saw the twin market indicators further depleting by 0.9 per cent.Specifically, the market capitalisation fell by N63 billion to close the day at N6.813 trillion as against opening of N6.876 trillion while the All-Share Index deepened by 198.06 basis point to close the day at 21,299.55 from 21,497.61.Further analysis of the days transaction showed that while 36 companies suffered losses to depress the market, eight companies made the gainers tables.On the subsectorial level, banking stocks is still the toast of investors despite the lull in market activities. Trading in the day saw 170.3 million ordinary shares of banking stocks worth N897.3 million being swapped in 2,531 deals. The insurance subsector followed closely with 31.7 million ordinary shares valued at N19.2 million done in 1,512 deals.ssssA peep into the price movement chart in the day's activities showed that, May & Baker, Japaul Oil, Flourmill Nig, Longman and Unilever dipped by 5.00 per cent each to close at N3.80, N0.95, N76.00, N4.75 and N26.60, respectively.On the other hand, NAHCO, Zenith Bank, Ecobank Transnational Incorporated, Fidelity Bank and Airservice appreciated by 4.48; 3.16; 3.08; 1.50 and 1.42 per cent to close the day at N7.00; 12.40; N13.40; N2.03 and N2.12 respectively.In all, 243.6 million shares, worth N1.3 billion were exchanged in 5,698 deals by investors.However, the equities market appreciated on Friday following heavy gains recorded by blue chip companies even as investors' wealth rose in the day by N95 billion, from N6.813 trillion to N6.908 trillion.
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