16 December 2012

Nigeria: NSE Index Records Six Week High, As Shares' Value Rises by N324 Billion

All Share Index of the Nigeria Stock Exchange rose to a six week high last week while total value of shares rose by N234 billion in response to five days of uninterrupted profit making on the Exchange.

Analysts at Proshare, an Investment Company, said the outlook in the last seven days revealed sustained and significant increase in risk appetite as they had recently observed gradual and consistent growth in cautious and value trading towards more active stocks across the board.

Specifically, the key market indices represented by the All-share Index and the Market Capitalisation both rose by 3.80 per cent each during the week.

The Market Capitalisation gained about N324 billion to close at N8.846 trillion from N8.522 trillion; while the All-Share Index appreciated by 1,013 points to close at 27,685.54 from 26,671.72 points.

A review of the equity price movements indicated that forty four (44) equities recorded price appreciation while twenty-five (25) equities recorded price declines and prices of one hundred and twenty-nine (129) equities remained constant. When compared with the preceding week, thirty five (35) equities gained while thirty- one (31) equities recorded price declines and prices of one hundred and thirty-two (132) equities remained constant.

Nestle Nigeria Plc led in the gainers chart, appreciating by N49.95 to close at N710.00 per share from N660.05 per share. It was followed by Guinness Nigeria Plc which rose by N23.90 to close at N265.00 per share, while the Nigeria Breweries Plc gained N21.45 to close at N165.00 per share, among others.

On the contrary, PZ Cussons Nigeria Plc led in the losers' chart, depreciating by N1.95 to close at N27.05 per share from N29.00. It was followed by MRS Oil Nigeria Plc, which lost N1.25 to close at N23.76 per share and DN Meyer Plc which declined by N0.75 to close at N2.05 per share, among others.

Meanwhile, a turnover of 1.929 billion shares valued at N14.640 billion in 22,650 deals was recorded last week in contrast to a total of 1.144 billion shares valued at N11.239 billion that exchanged hands in 18,947 deals penultimate week.

The Financial Services sector (measured by turnover volume) accounted for 1.573 billion shares valued at N10.547 billion traded in 14,207 deals. The Conglomerates sector followed with 131.812 million shares valued at N180.812 million traded in 765 deals.

Linkage Assurance Plc was the most active during the week (measured by turnover volume); with 218.466 million shares, followed by Zenith Bank Plc and Transnational Corporation Of Nigeria Plc .The top three equities with a total volume of 564.997 million units of shares contributed 29.29 per cent and 27.99 per cent respectively to the total turnover and value for the week.

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