Daily Trust (Abuja)

10 November 2012

Nigeria: Equity Market Records N50.58 Billion Gain in the Week

Lagos — Trading activities on the floor of the Nigerian Stock Exchange (NSE) closed on the bullish trend for the week after two weekly position of negative position as the rally witnessed in the first four trading days ensured the key benchmark index closed positive.

The market uptrend on Monday to open the first trading day of week positive with All-Share-Index (ASI) recording 0.15 per cent gain while it maintained upward movement on Tuesday due to continuous bargain activities with as ASI recording 0.47 per cent gain.

Market sustained the positive movement on Wednesday as ASI firms up by 0.26 per cent while the bulls re-surfaced consolidated on Thursday as the rally continues while the key market indicator closed uptick by 0.34 per cent.

Consequently, market activities on Friday closed downward as the key benchmark index dipped by 0.62 per cent while market closed the week with aggregate gain of 0.60 per cent.

The NSE All-Share Index, which opened the week at 26,559.55 closed at 26,718.30 thereby appreciating 158.75 points or 0.60 per cent. The market capitalization of the listed equities increased by N50.588 billion or 0.60 per cent to close at N8.514 trillion.

Three of the sectorial indices appreciated while three also depreciated. The Bloomberg NSE 30, Bloomberg NSE Consumer Goods and Bloomberg NSE Oil/Gas Indices rose by 0.56 per cent, 0.54 per cent and 0.53 per cent respectively, while Bloomberg NSE Banking, Bloomberg NSE Insurance and NSE Lotus II Indices depreciated by 0.28 per cent, 0.57 per cent and 1.12 per cent respectively.

Consequently, the stock market recorded a turnover of 1.189 billion units of shares valued at N11.491 billion exchanged hands in 22,277 deals this week compared to 1.512 billion shares valued at N12.950 billion that exchanged last week in 23,039 deals.

The Financial Services sector continued its vibrant dominance in the activity chart (measured by turnover volume) recording the highest trading volume of 835.158 million units of shares valued at N6.380 billion traded in 13,326 deals, representing 70.00 per cent, 55.52 per cent and 60.00 per cent, of the volume, value and number of deals executed on the stock market respectively during the week. The Consumer Goods sector (measured by turnover volume) followed with a recorded volume of 178.863 million shares valued at N3.651 billion traded in 4,204 deals. The top two sectors accounted for 1.014 billion shares valued at N10.031 billion traded in 17,530 deals, thus accounting for 85.00 per cent, 87.29 per cent and 79.00 per cent of the volume, value and number of deals respectively.

Dangote Sugar Refinery Plc of the Food Products subsector was the most active with a volume of 120.168 million units followed by Zenith Bank Plc and United Bank for Africa Plc. The top three equities with a total volume of 324.977 million units of shares contributed 27.00 per cent and 25.79 per cent respectively to the total turnover and value for the week.

Also traded during the week were 256 units of NewGold Exchange Traded Funds (ETFs) valued at N669,100 exchanged hands in 5 deals in contrast to a total of 7,700 units valued at N20.007 million transacted last week in 5 deals.

The analysis of the equity price movements indicated that 30 equities gained while 39 equities recorded price declines and prices of one 129 equities remained constant. When compared with the preceding week, 21equities gained while 52 equities recorded price declines and prices of 125 equities remained constant.

On the gainers chart, Nigerian Breweries Plc led with N6.75 kobo or 5.25 per cent, follow by Dangote Cement Plc with N2.50 kobo or 2.08 per cent, PZ Cussons Nigeria Plc with N1.61kobo or 6.19 per cent, Guinness Nig Plc with N1.59 kobo or 0.60 per cent, Lafarge Wapco Plc with N1.36 kobo or 2.42 per cent, Julius Berger Nig. Plc with N1.16 kobo or 3.94 per cent, Glaxo Smithkline Consumer Nig. Plc with N1.11 kobo or 2.65 per cent, Oando Plc with N1.08 kobo or 9.71 per cent, UACN Plc with N0.76 kobo or 1.93 per cent and UBA Plc with N0.38 kobo or 8.24 per cent.

On the losers chart, Nestle Nigeria Plc led with N37.67 kobo or 5.62 per cent, Flour Mills Nig. Plc with N2.99 kobo or 4.53 per cent, Cadbury Nigeria Plc with N2.50 kobo or 9.26 per cent, Cap Plc with N2.09 kobo or 6.55 per cent, Conoil Plc with N19.76 kobo or N1.91 kobo or 9.67 per cent, UACN Property Development Co. Limited with N1.10 kobo or 8.80 per cent, Ecobank Transnational Incorporated with N0.75 kobo or 6.38 per cent, NCR (Nigeria) Plc with N0.68 kobo or 4.94 per cent, Portland Paints & Products Nigeria Plc with N0.58 kobo or 13.52 per cent and Presco Plc with N0.46 kobo or 3.18 per cent.

Ads by Google

Copyright © 2012 Daily Trust. All rights reserved. Distributed by AllAfrica Global Media (allAfrica.com). To contact the copyright holder directly for corrections — or for permission to republish or make other authorized use of this material, click here.

AllAfrica publishes around 2,000 reports a day from more than 130 news organizations and over 200 other institutions and individuals, representing a diversity of positions on every topic. We publish news and views ranging from vigorous opponents of governments to government publications and spokespersons. Publishers named above each report are responsible for their own content, which AllAfrica does not have the legal right to edit or correct.

Articles and commentaries that identify allAfrica.com as the publisher are produced or commissioned by AllAfrica. To address comments or complaints, please Contact us.