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1 November 2009
Abuja — The Nigerian Stock Exchange (NSE) recorded a turnover of 1.95 billion shares worth N11.4 billion in 30,579 deals last week.
This is against the 2.1 billion shares valued at N15.8 billion traded in 29,101 deals in the preceding week.
All the transactions were in the equity sector. There were no transactions in the Federal Government's development stocks, state government's bonds and industrial loans/preference stocks sectors. As in the preceding week, the banking sub-sector was the most active during the week under review (measured by turnover), with 902.73 million shares worth N6.8 billion traded in 16,935 deals.
The volume in the sub-sector was driven largely by the shares of First City Monument Bank Plc, Access Bank Plc and UBA Plc.
Trading in the shares of the three banks accounted for 377.89 million shares, representing 41.9 per cent of the sub-sector's turnover. The insurance sub-sector followed on the week's activity chart, with a turnover of 493.42 million shares valued at N390 million traded in 2,685 deals. The NSE All-Share Index dropped by 3.75 per cent to close at 21,804.69 on Friday. The market capitalisation also closed lower at N5.14 trillion. The NSE-30 Index also dropped by 3.02 per cent, to close at 837.34. The NSE Food/Beverages Index, one of the four sectoral indices, rose by 2.02 per cent to close at 484.99. The NSE Banking Index dropped by 4.23 per cent, to close at 356.19. The NSE Insurance Index also dropped by 2.9 per cent to close at 297.27, while the NSE Oil/Gas Index went down by 2.02 per cent to close at 302.28. Prices of 16 stocks appreciated, lower than the 41 in the preceding week.
Flour Mills of Nigeria Plc led on the gainers' table with a gain of N6.79 to close at N35.82 per share, while Guinness Nigeria Plc followed with N4.14 to close at N136.00 per share. Prices of 72 stocks depreciated during the week, higher than the 55 of the preceding week.
Nigerian Breweries Plc led on the price losers' table, dropping N4.50 to close at N54.50 per share, while Conoil Plc followed with a loss of N3.98 to close at N36.91 per share. The price of shares of Nigerian Ropes Plc was adjusted for dividend of N0.08 per share as recommended by its board of directors. The full suspension placed on shares of Stokvis and African Paints was changed to technical suspension on Oct. 29. (NAN)
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