19 January 2013

Nigerian Stocks Return 5.92 Percent Gain in the Week

Lagos — The Nigerian equities experienced growing optimism in the week as investors engaged market with improved commitment towards investment in the nation's capital market.

Stocks extend bargain trend on Monday, extending gains by 0.37 per cent to open the week on positive trend as bargain hunters sustained active postures. Also, the key benchmark indices extend 2-day gaining streak on Tuesday as market closed with impressive gains by 1.29 per cent on the back of growing optimism.

Furthermore, market sustained the rally as the key benchmark indices climbed further on Wednesday and Thursday by 1.37 per cent and 0.77 per cent respectively on the back growing commitments.

Subsequently, equities sustained healthy breadth on Friday as market traded above the line on the back of sustained bargain hunting throughout the day.

The market capitalization of 198 equities listed appreciated by 5.92 per cent to close at N9.893 trillion. Also, the NSE All-Share Index appreciated by 5.91 per cent to close at 30,927.18.

All the sectorial indices appreciated: the Bloomberg NSE 30, Bloomberg NSE Consumer Goods, Bloomberg NSE Banking, Bloomberg NSE Insurance, Bloomberg NSE Oil/Gas and NSE Lotus II appreciated by 5.77 per cent, 4.31 per cent, 3.34 per cent, 3.30 per cent, 7.12 per cent and 6.26 per cent respectively.

Similarly, a turnover of 3.259 billion shares worth N21.636 billion in 34,651 deals was traded this week in contrast to a total of 2.160 billion shares valued at N16.998 billion that exchanged hands last week in 31,241 deals.

The Financial Services sector continued its vibrant dominance in the activity chart (measured by turnover volume) recording the highest trading volume of 2.477 billion shares valued at N15.399 billion exchanged hands by investors in 22,627 deals, representing 76.01 per cent, 71.17 per cent and 65.30 per cent of the volume, value and number of deals executed on the stock market respectively during the week. The Conglomerates sector (measured by turnover volume) followed with a recorded volume of 423.299 million shares valued at N771.622 million traded in 1,117 deals.

The Consumer Goods sector (measured by turnover volume) was third with 141.525 million shares valued at N3.673 billion traded in 5,671 deals. The top three sectors accounted for 3.042 billion shares valued at N19.844 billion traded in 29,415 deals, thus accounting for 93.34 per cent, 91.72 per cent and 84.89 per cent of the volume, value and number of deals respectively.

Transnational Corporation of Nigeria Plc of the Diversified Industries subsector was the most active with a volume of 415.970 million units followed by U B A Plc and Diamond Bank Plc. The top three equities with a total volume of 1.022 billion units of shares contributed 31.37 per cent and 20.38 per cent respectively to the total turnover and value for the week.

Also traded during the week was 565 units of NewGold Exchange Traded Funds (ETFs) valued at N1.440 billion exchanged hands in 4 deals in contrast to a total of 413 units valued at N1.1042 million transacted last week in 5 deals.

In the same vein, a review of the equity price movements indicated that 68 equities gained while 9 equities recorded price declines and prices of 118 equities remained constant. When compared with the preceding week, 52 equities gained while 20 equities recorded price declines and prices of 123 equities remained constant.

During the week, Nestle Nigeria Plc led the gainers chart with N24.00 kobo or 3.35 per cent , Dangote Cement Plc followed with N14.00 kobo or 11.11 per cent, Mobil Oil Nigeria Plc with N11.19 kobo or 10.24 per cent, Nigerian Breweries Plc with N8.09 kobo or 5.38 per cent, Flour Mills Nigeria Plc with N5.00 kobo or 7.69 per cent, UACN Plc with N4.76 kobo or 11.19 per cent, Julius Berger Nigeria Plc with N4.71 kobo or 13.85 per cent, Total Nigeria Plc with N4.60 kobo or 3.49 per cent, Cadbury Nigeria Plc with N3.74 kobo or 12.78 per cent and UACN Property Development Co. Limited with N3.59 kobo or 28.93 per cent.

On the losers chart, Unilever Nigeria Plc led with N2.41 kobo or 5.19 per cent, John Holt Plc with N0.64 kobo or 21.92 per cent, B.O.C. Gases Plc with N0.32 kobo or 4.88 per cent, Guaranty Trust Bank Plc with N0.23 kobo or 0.92 per cent, Morison Industries Plc with N0.14 kobo or 4.68 per cent, Cutix Plc with N0.08 kobo or 5.00 per cent, UTC Nigeria Plc with N0.03 kobo or 3.61 per cent, Ikeja Hotel Plc with N0.02 kobo or 2.15 per cent and NPF Microfinance Bank Plc with N0.01 kobo or 0.96 per cent.

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