16 November 2009
Bonny Amadi — Indication that equities trading would open bullish today emerged last weekend as the capitalization of equities on the Nigerian Stock Exchange (NSE) closed the week on a promising note with market value growing by N34.14 billion, closing at N5.04 trillion against N5 trillion which opened trading on Thursday.
The market All-Share Index (ASI) closed higher at 21,349.18 having topped 144.60 basis points. Trading opened Friday with 21,204.18 ASI.
However, the market performance indices for the week ended October 13, 2009 reflected negative results with more highly priced equities depreciating in prices. The NSE All-Share Index within the period dropped by 0.78 percent closing Friday at 21,349.18 The market capitalization of the 198 First -Tier equities also closed lower at N5.04 trillion, while the NSE-30 Index dropped by 0.7 per cent to close at 827.91.
Only the NSE banking index appreciated during the week as it rose by 0.93 per cent to close at 349.51.But the NSE Food/Beverages Index dropped by 0.9 per cent closing at 489.95.The NSE Insurance Index dropped by 3.97 per cent closing at 278.6, while the NSE Oil/Gas Index dropped by 0.9per cent to closing at 296.34.
Analysis of the market summary for the week showed that 61 stocks depreciated in price during the week, higher than the 59 of the preceding week. Total Nigeria led the price losers' table, dropping N8.00 to close at N152.00 per share; Flour Mills of Nigeria followed with N1.87 loss in share price closing at N32.00 per share, Conoil lost N1.84 to close at N36.07 per share while Ecobank Nigeria gave out N1.71 closing at N15.96 per share.
Other top ten losers are Nigerian Breweries with N1.60 loss in share price closing atn53.30 per share, Eterna Oil & Gas lost N1.43 closing at N8.68 per share; Nigerian Bottling Company gave out N1.05 closing at N20.14 while Cement Co. of Northern Nigeria dropped N1.03 to close at N12.97 per share.
Guaranty Trust Bank (GTB) depreciated by 84 kobo closing at N16.21 per share while 7-Up Bottling Company closed the top ten losers table with 65 kobo loss in price closing atN28.35 per share.
The price gainers table for the week showed that 32 equities appreciated in price, lower than the 33 in the preceding week. Julius Berger Nigeria led the gainers' table with N2.07 closing at N28.91 per share; UACN Property Development Company followed with N1.42 gain, closing at N19.42 per share, African Petroleum (AP) added N1.21 closing at N33.49 per share, while Dangote Flour Mills gained N1.13 closing atN5.51 per share.
Other top gainers for the week are UAC of Nigeria with N1.06 closing at N41.96 per share; Union Bank of Nigeria topped 79 kobo closing at N6.45 per share, Benue Cement Company (BCC) added 50 kobo to close at N42.50 per share, while First Bank of Nigeria (FBN) topped 46 kobo closing atN14.60 per share.
Skye Bank gained 42 kobo to close at N5.78 per share while Vita foam Nigeria closed the top five gainers table with 42 kobo appreciation closing atN4.79 per share.
Meanwhile a turnover of 2.2 billion shares worth N17.2 billion in 30,275 deals was recorded last week , in contrast to a total of 2.4 billion shares valued at N14.65 billion exchanged during the preceding week in 31,070 deals.
The Banking sub sector was the most active during the week (measured by turnover volume), with 1.3 billion shares worth N10.1 billion exchanged by investors in 17,542 deals. Volume in the Banking subsector was largely driven by activity in the shares of Access Bank Plc, UBA Plc and First Bank of Nigeria Plc. Trading in the shares of the three banks accounted for 687.2 million shares, representing 53.44% of the subsector's turnover.
The Insurance subsector, boosted by activity in the shares of Cornerstone Insurance Plc and African Alliance Insurance Plc, followed on the week's activity chart with a turnover of 284.9 million shares valued at N263.21 million in 1,956 deals.
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