24 November 2012

Nigeria: Equity Market Sheds N32.62 Billion in the Week

Lagos — Trading activities on the floor of the Nigerian Stock Exchange (NSE) closed downwards for the second consecutive week as the bears dominated market transaction in most trading days of the week.

Trading close Monday on negative as All-Share-Index (ASI) down by 0.51 per cent while market witnessed improved patronage on Tuesday as value investors increased stakes in medium and small capitalisation stocks with ASI resuming uptrend by 0.35 per cent.

However, speculative trading returned to the bourse on Wednesday as the bear's re-surfaced while NSE Index down by 0.21per cent. Similar outlook was recorded on Thursday as pessimistic sentiment continue to permeates across the main board with the key market indicator further sliding by 0.13 per cent.

Meanwhile, market activities on Friday closed upwardly as the key benchmark index climbed by 0.20 per cent.

During the week, a turnover of 1.178 billion shares worth N9.279 billion in 18,621 deals was recorded in contrast to a total of 1.293 billion shares valued at N9.414 billion that exchanged hands last week in 19,825 deals.

The Financial Services sector was the most active during the week contributing 74.64 per cent to the total turnover volume with 879.335 million shares valued at N5.574 billion exchanged by investors in 10,900 deals.

Similarly, the Banking subsector of the Financial Services sector was the most active during the week (measured by turnover volume); with 639.990 million shares worth N5.400 billion traded in 10,184 deals. Volume in the Banking subsector was largely driven by activity in the shares of

Access Bank Plc, UBA Plc, and Zenith Bank Plc. Trading in the shares of the three banks accounted for 321.215 million shares, representing 50.19 per cent, 36.53 per cent and 27.27 per cent of the turnover recorded by the subsector, sector and total turnover for the week, respectively.

Also traded during the week were 500 units of NewGold Exchange Traded Funds (ETFs) valued at N1.327 million exchanged hands in 5 deals in contrast to a total of 350 units valued at N925.000 million transacted last week in 4 deals.

The NSE All-Share Index depreciated by 0.30 per cent to close at 26,322.18 down from 26,400.94. Also, market capitalization of the listed equities dropped by 0.39 per cent or N32.620 billion, from N8.413 trillion recorded in the preceding week to N8.381 trillion.

Likewise, the Bloomberg NSE Banking, Bloomberg NSE Insurance and Bloomberg NSE Oil/Gas Indices dropped by 1.38 per cent; 1.50 per cent; 1.41 per cent respectively; while Bloomberg NSE 30 and NSE Lotus II Indices respectively appreciated by 0.86 per cent and 0.50 per cent.

Analysis of the equity price movements indicated that 26 equities gained while

43 equities recorded price declines and prices of 129 equities remained constant. When compared with the preceding week, 23 gained while 43 recorded price declines and prices of 132 equities remained constant.

On the gainers chart, Flour Mills Nigeria Plc led with N3.40 kobo or 5.39 per cent, followed by Unilever Nigeria Plc with N2.70 kobo or 6.49 per cent, Nigerian Breweries Plc with N2.56 kobo or 1.89 per cent, Julius Berger Nigeria Plc with N2.40 kobo or 8.25 per cent, UACN Plc with N1.60 kobo or 4.00 per cent, Cadbury Nigeria Plc with N1.41 kobo or 5.45 per cent, Access Bank Plc with N0.45 kobo or 5.26 per cent, Oando Plc with N0.34 kobo or 3.09 per cent, Nigerian Bags Manufacturing Company Plc with N0.33 kobo or 16.67 per cent and Dangote Sugar Refinery Plc with N0.30 kobo or 5.50 per cent.

Guinness Nigeria Plc led on lo9sers table with N21.85 kobo or 8.68 per cent, Total Nigeria Plc with N6.25 kobo or 5.00 per cent, Glaxo Smithkline Consumer Nigeria Plc with N3.34 kobo or 8.18 per cent, Nestle Nigeria Plc with N2.39 kobo or 0.40 per cent, MRS Oil Nigeria Plc with N1.45 kobo or 4.97 per cent, UACN Property Development Co. Limited with N1.39 kobo or 11.60 per cent, Northern Nigeria Flour Mills Plc with N1.02 kobo or 5.00 per cent, Academy Press Plc with N0.90 kobo or 27.03 per cent, Zenith Bank Plc with N0.81 kobo or 4.51 per cent and Forte Oil Plc with N0.46 or 4.95 per cent.

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