9 December 2012

Nigeria: NSE Value Rises By N56 Billion On Blue Chip Coys' Gains

Equities value on the Nigerian Stock Exchange, NSE, appreciated by N56 billion last week. This was occasioned by price gain on the shares of highly capitalised companies.

Specifically, the key market indices recorded 0.67 per cent gain each. The market capitalisation gained N56 billion to close at N8.522 trillion from N8.466 trillion; while the all share index gained 177.28 points to close at 26,671.72 points from 26,494.44 points.

A review of the equity price movements indicated that thirty five equities gained while thirty-one equities recorded price declines and prices of one hundred and thirty-two equities remained constant. When compared with the preceding week, thirty equities gained while thirty four equities recorded price declines and prices of one hundred and thirty-four equities remained constant.

Guinness Nigeria Plc led on the gainers' table appreciating by N10.91 to close at N241.19 per share from N230.19; next was Nestle Nigeria Plc. which gained N9.94 to close at N660.05 per share, while Nigerian Breweries Plc rose by N3.27 to close at N143.55 per share, among others.

Meanwhile, Mobil Oil Nigeria Plc led on the losers' table dipping by N5.75 to close at N109.25 per share from N115.00 per share; next was Total Nigeria Plc losing N3.00 to close at N121.68 per share, while MRS Oil Nigeria Plc dropped N1.31 to close at N25.01 per share, among others.

Trading results show that a turnover of 1.144 billion shares worth N 11.239 billion in 18,947 deals was recorded in the week under review in contrast to a total of 1.216 billion shares valued at N8.886 billion that exchanged hands in 18,902 deals the penultimate week.

The Financial Services sector (measured by turnover volume) accounted for 872.712 million shares valued at N6.803 billion traded in 11,398 deals. The Consumer Goods sector followed with 75.609 million shares valued at N3.117 billion traded in 3,812 deals.

The Banking subsector of the Financial Services sector was the most active during the week (measured by turnover volume); with 645.733 million shares worth N5.555 billion exchanged hands by investors in 8,257 deals.

Volume in the Banking subsector was largely driven by activities in the shares of Zenith Bank Pic and Access Bank Pic. Trading in the shares of the two banks accounted for 196.229 million shares, representing 30.39 per cent, 22.49 per cent, and 17.15 per cent of the turnover recorded by the subsector, sector and total turnover for the week, respectively.

Also traded during the week were 611 units of NewGold Exchange Traded Funds (ETFs) valued at N1.591 million exchanged hands in 5 deals in contrast to a total of 550 units valued at N1.462 million transacted last week in 5 deals. Also, 4,650 units of FGN Bonds valued at N5.008 million were traded during the week in 12 deals. However, there were no transactions in the State/Local Government Bonds and Corporate Bonds/Debentures sectors.

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