Daily Champion (Lagos)
2 November 2009
Bonny Amadi — The value of equities quoted on the Nigerian Stock Exchange (NSE) plummeted further by N200.17 billion last week ended October 30,2009 as market capitalisation of the 198 quoted equities closed at N5.14 trillion, against N5.34 trillion which opened trading for the week.
Similarly, the NSE All-Share Index dropped by 3.75 per cent to close on Friday at 21,804.69. this was attributed to the decline in the prices of the highly capitalized equities. Also, the NSE-30 Index dropped by 3.02 per cent to close at 837.34.
Analysis of the price movement table during the week under review showed that 72 (72) stocks depreciated in price higher than the 55 recorded in the preceding week. Nigerian Breweries led on the price losers' table, dropping by N4.50 to close at N54.50 per share; Conoil followed with a loss of N3.98 to close at N36.91 per share, UACN property Development Company gave out N2.08 closing at N19.19 per share while African Petroleum (AP) lost N1.80 closing at N34.00 per share
Other top 10 losers are Lafarge Cement WAPCO Nigeria with N1.55 loss to clsoe at N31.00 per share, Nigerian Bottling Company (NBC) lost N1.11 closing at N21.19 per share; Eterna Oil & Gas dropped N1.09 closing at N10.11 per share while Nigerian Aviation Handling Company (NAHCo) dropped N1.00 to close at N7.24 per share.Ecobank Nigeria gave out 97 kobo to close at N18.59 per share while Skye Bank closed the top ten losers table with 80 kobo loss in share price closing at N5.00 per share.
The price gainers table showed that 16 stocks appreciated in price during the week, lower than the forty-one (41) in the preceding week. Also, as in the preceding week, Flour Mills of Nigeria led on the gainers' table with a gain of N6.79 to close at N35.82 per share, followed by Guinness Nigeria with N4.14 to close at N136.00 per share, Julius Berger Nigeria added N1.34 to close at N28.32 per share, UAC of Nigeria gained 50 kobo to close at N41, 00 per share while Cement Company of Northern Nigeria appreciated with 49 kobo to close at N13.00 per share.
Other gainers for the week are University Press with 45 kobo to close at N5.01 per share, Longman Nigeria with 41kobo closing at N9.44 per share, Ashaka Cement with 35kobo to gain, closing at N13.10 per share; Berger Paints Nigeria topped 31kobo closing at N3.43 per share, while Fidson Healthcare added 25kobo closing at N1.84 per share
Meanwhile, the Exchange during the period recorded a turnover of 1.95 billion shares worth N11.4 billion transacted in 30,579 deals in contrast to a total of 2.1 billion shares valued at N15.8 billion exchanged last week in 29,101 deals.
The banking subsector remained the most active during the week measured by turnover volume with 902.73 million shares worth N6.8 billion transacted by investors in 16,935 deals. Volume in the Banking subsector was largely driven by activity in the shares of First City Monument Bank (FCMB) Access Bank and United Bank for Africa (UBA).Trading in the shares of the three banks accounted for 377.89 million shares, representing 41.9% of the subsector's turnover.
The Insurance subsector followed in the week's activity chart with a turnover of 493.42 million shares valued at N390 million in 2,685 deals. The sector's turnover was lifted by activity in the shares of Standard Alliance Insurance and Lasaco Assurance.
One of the four sectoral indices appreciated - The NSE Food/Beverages Index rose by 2.02 per cent to close at 484.99. However, The NSE Banking Index dropped by 4.23 per cent to close at 356.19. The NSE Insurance Index dropped by 2.9 per cent to close at 297.27. The NSE Oil/Gas Index dropped by 2.02 per cent to close at 302.28.
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