Daily Trust (Abuja)

2 February 2013

Nigeria: Stocks Return N1.22 Trillion Gains in January

Lagos — The Nigerian equities experienced growing optimism in the month of January as investors engaged market with improved commitment and better risk appetite.

The market capitalization of 187 first-tier equities appreciated by N1.217 trillion to close at N10.191 trillion from N8.974 trillion in the last trading day of December.

During the month, the NSE All-Share Index gained 3,774.38 basis points to close at 31,853.19 from 28,078.81 points it open the month.

Consequently, activities remain active this week as the market capitalization in the week appreciated by N267.43 billion to close at N10.370 trillion.

The NSE All-Share Index appreciated by 828.37 points or 2.62 per cent to close on Friday at 32,411.86.

On Monday, Nigerian equities succumb to sell pressure to open the week on negative trend despite impressive early trades as profit-taking tendency gained tempo during second half trading period.

In the same vein, the market capitalization of 187 first-tier equities depreciated by N32.35 billion to close at N10.07 trillion as against appreciation by N43.90 billion recorded in preceding trading day to close at N10.10 trillion.

At the close of trading session, the NSE All-Share Index retraces by 0.34 per cent to close at 31,474.88 as against an uptrend by 0.44 per cent recorded in the previous session to close at 31,583.49.

On, Tuesday speculative trading continued to dominate market atmosphere as market swings upward after a day break.

The market capitalization appreciated by N30.89 billion to close at N10.10 trillion as against depreciation by N32.35 billion recorded in preceding session to close at N10.07 trillion.

At the close of trading session, the NSE All-Share Index retraces by 0.31 per cent to close at 31,571.46 as against decline by 0.34 per cent recorded in the previous session to close at 31,474.88.

Activities on Wednesday extend gains on the back of sustained bargain trend witnessed towards blue chip stocks.

At the close of trading session, the NSE All-Share Index extends gain by 0.77 per cent to close at 31,815.45 as against uptrend by 0.31 per cent recorded in the previous session to close at 31,571.46. In the same vein, market capitalization appreciated by N78.06 billion to close at N10.17 trillion as against depreciation by N30.89 billion recorded in preceding session to close at N10.10 trillion.

At the end of trading on Thursday, market activities continued the gaining streak for the third time in the week on the back of constant modest good deal posture.

At the close of trading session, the NSE All-Share Index extends gain by 0.12 per cent to close at 31,853.19 as against uptrend by 0.77 per cent recorded in the previous session to close at 31,815.45.

In the same vein, market capitalization appreciated by N12.07 billion to close at N10.19 trillion as against appreciation by N78.06 billion recorded in preceding session to close at N10.17 trillion.

Subsequently, equities sustained healthy breadth on Friday as market capitalization appreciated by N179 billion to close at N10.370 trillion.

At the close of trading session, the NSE All-Share Index increased by 1.75 per cent to close at 32,411.86.

However, a turnover of 2.813 billion shares worth N22.188 billion in 33,123 deals were transacted this week on the floor of the exchange in contrast to a total of 2.612 billion shares valued at N19.152 billion that exchanged hands last week in 27,186 deals.

The Financial Services sector was the most active during the week, contributing 79.64 per cent to the total equity turnover volume with 2.240 billion shares valued at N14.761 billion exchanged hands by investors in 19,656 deals.

Similarly, the Banking subsector of the Financial Services sector was the most active during the week (measured by turnover volume); with 1.583 billion shares worth N12.581 billion traded in 13,629 deals. Volume in the Banking subsector was largely driven by activities in the shares of Ecobank Transnational Incorporated Plc, Unity Bank Plc and UBA Plc. Trading in the shares of the three banks accounted for 844.849 million shares, representing 53.37 per cent, 37.71per cent and 30.03 per cent of the turnover recorded by the subsector, sector and total turnover for the week, respectively.

A review of the equity price movements indicated that 55 equities gained while 27equities recorded price declines and 115 equities remained constant. When compared with the preceding week, 49 equities gained while 31 equities recorded price declines and one 117 equities remained constant.

On the gainers chart, Nestle Nigeria Plc led with N66.99 kobo or 8.90 per cent, followed by Julius Berger Nigeria Plc with N14.48 kobo or 28.11 per cent, Nigerian Breweries Plc with N11.40 kobo or 7.42 per cent, Flour Mills Nigeria Plc with N7.42 kobo or 10.10 per cent, Guinness Nigeria Plc with N7.03 kobo or 2.47 per cent, PZ Cussons Nigeria Plc with N4.13 kobo or 13.11 per cent, Forte Oil Plc with N3.75 kobo or 27.19 per cent, Lafarge Wapco Plc with N2.99 kobo or 4.60 per cent, Stanbic IBTC Holdings Plc with N1.30 kobo or 10.48 per cent and MRS Oil Nigeria Plc with N1.18 kobo or 4.98 per cent.

On the other hand, UACN Plc led the losers chart with N4.90 kobo or 9.42 per cent, followed by CAP Plc with N2.95 kobo or 9.42 per cent, Dangote Cement Plc with N2.13 kobo or 9.42 per cent, International Breweries Plc with N1.18 kobo or 9.42 per cent, Oando Plc with N1.00 kobo or 9.42 per cent, Berger Paints Plc with N0.83 kobo or 9.42 per cent, Nigerian Aviation Handling Company Plc with N0.63 kobo or 9.42 per cent, John Holt Plc with N0.44 kobo or 9.42 per cent, Unilever Nigeria Plc with N0.41 kobo or 9.42 per cent and Airline Services and Logistics Plc with N0.35 kobo or 9.42 per cent.

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