8 December 2012

Nigeria: Market Close the Week With N85.28 Billion Gains

Lagos — Equity market sustained previous week's gains with N85.28 billion as the Nigerian Stock Exchange (NSE) All-Share Index appreciated by 0.67 per cent to close at 26,671.72 while market capitalization of the listed equities increased by 0.67 per cent to close at N8.522 trillion.

Five of the sectorial indices appreciated during the week: the Bloomberg NSE 30, Bloomberg NSE Consumer Goods, Bloomberg NSE Banking, Bloomberg NSE Insurance and NSE Lotus II Indices appreciated by 1.27 per cent, 2.26 per cent, 2.37 per cent, 2.43 per cent and 0.75 per cent respectively. However, the Bloomberg NSE Oil/Gas index dropped by 2.11 per cent.

As a result, stocks succumbed to sell pressure on Monday, recording 0.43 per cent loss to open the week on negative note as speculative trading dominated the terrain.

However, market regained consciousness on Tuesday with modest gain of 0.01per cent amid negative breadth. Notwithstanding, the key benchmark indices climbed further by 0.20 per cent gain while All-Share-Index (ASI) consolidates position on Thursday with 0.42 per cent gain.

Consequently, market activities on Friday closed on positive trend as the key benchmark index climbed by 0.47 per cent.

During the week, a turnover of 1.144 billion shares worth N11.239 billion in 18,947 deals was recorded in contrast to a total of 1.216 billion shares valued at N8.886 billion that exchanged hands last week in 18,902 deals.

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 Plc and Access Bank Plc. 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.

A review of the equity price movements indicated that 35 equities gained while 31 equities recorded price declines and prices of 132 equities remained constant. When compared with the preceding week, 30 equities gained while 34 equities recorded price declines and prices 134 equities remained constant.

During the week, Guinness Nigeria Plc led the gainers chart with N10.91 kobo or 4.74 per cent follow by Nestle Nigeria Plc with N9.94 kobo or 1.53 per cent, Nigerian Breweries Plc with N3.27 kobo or 2.33 per cent, PZ Cussons Nigeria Plc with N1.32 kobo or 4.77 per cent, Cadbury Nigeria Plc with N1.20 kobo or 4.40 per cent, Cap Plc with N1.04 kobo or 3.86 per cent, ConoilPlc with N0.93 kobo or 4.98 per cent, Guaranty Trust Bank Plc with N0.89 kobo or 4.60 per cent, Zenith Bank Plc with N0.51 kobo or 2.95 per cent and International Breweries Plc with N0.39 kobo or 2.87 per cent.

On the losers chart, Mobil Oil Nigeria Plc led with N5.75 kobo or 5 per cent follow by Total Nigeria Plc with N3.00 kobo or 2.41 per cent, Mrs Oil Nigeria Plc with N1.31 kobo or 4.98 per cent, Ashaka Cement Plc with N1.28 kobo or 6.64 per cent, Stanbic IBTC Holdings Plc with N1.07 kobo or 9.09 per cent, Lafarge WapcoPlc with N0.99 kobo or 1.68 per cent, Forte Oil Plc with N0.86 kobo or 9.73 per cent, Dangote Cement Plc with N0.50 kobo or 0.41 per cent, Flour Mills Nigeria Plc with N0.50 kobo or 0.76 per cent and Nigerian Enamelware Plc with N0.43 kobo or 1.25 per cent.

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