23 February 2013

Nigeria: Stocks Erase Previous Week Loss With N204 Billion Gains

Lagos — Nigerian stocks record improved patronage as value investors hold ground firm in the week to push the market on upward trend with N204 billion gained.

On Monday, equity market extends four days losing streak to open the week on a negative trend despite improved patronage observed as speculators maintained resilient posture towards profiteering. The market capitalization depreciated by N2.22 billion to close at N10.64 trillion.

At the close of trading session, the NSE All-Share Index fell further by 0.02 per cent to close at 33,252.51 as against decline by 0.25 per cent recorded in the previous session to close at 33,258.54 as against depreciation of N25.20 billion recorded in preceding trading day.

Stocks record improved patronage on Tuesday as value investors hold ground firm in the second half of the session to push the key benchmark indices above the line despite the weak opening and increased price volatility.

The market capitalization appreciated by N26.75 billion to close at N10.66 trillion. While the NSE All-Share Index pulls back by 0.25 per cent to close at 33,335.11.

The market on Wednesday recorded massive improvement as market capitalization appreciated by N119 billion to close at N10.786 trillion. While the NSE All-Share Index pulls back by 373.07 points or 1.12 per cent to close at 33,708.18.

On Thursday, the market capitalization depreciated by N64 billion to close at N10.722 trillion. While the NSE All-Share Index dropped back by 0.60 per cent to close at 33,506.60.

However, the market close the week on Friday as market capitalization appreciated by N124 billion to close at N10.846 trillion. While the NSE All-Share Index also recorded increase of 388.47 point or 1.16 per cent to close at 33,506.60 basis points.

The NSE All-Share Index appreciated by 636.63 points or 1.91 per cent to close on Friday at 33,895.08 Also, the market capitalization of the listed equities appreciated by 1.91 per cent to close at N10.846 trillion.

The NSE Bloomberg NSE 30, Bloomberg NSE Consumer Goods and Bloomberg NSE Banking, Bloomberg NSE Oil/Gas and NSE Lotus II appreciated by 1.41 per cent, 0.78 per cent, 0.12 per cent, 2.16 per cent and 3.48 per cent respectively while the Bloomberg NSE Insurance depreciated by 6.54 per cent.

During the week, a turnover of 2.482 billion shares worth N22.815 billion in 32,471 deals were transacted on the floor of the exchange in contrast to a total of 4.249 billion shares valued at N23.177 billion that exchanged hands last week in 39,391 deals.

The Financial Services sector was the most active during the week, contributing 69.14 per cent, 59.98 per cent, 58.39 per cent to the total equity turnover volume, value and number of trades respectively in 1.716 billion shares valued at N13.684 billion exchanged hands by investors in 18,961 deals.

The Consumer Goods sector followed with a turnover volume of 199.667 million shares worth

N6.120 billion in 5,677 deals. While the Conglomerates sector came third with a turnover volume of 186.997 million shares worth N479.219 billion in 1,441 deals.

Trading in the top three equities namely Unity Bank Plc, Transnational Corporation of Nigeria Plc, Guaranty Trust Bank Plc (measured by turnover volume) accounted for 552.779 million shares worth N4.070 billion in 4,417 deals.

Also traded during the week were 193 units of NewGold Exchange Traded Funds (ETFs) valued at N471,970 exchanged hands in 4 deals in contrast to a total of 339 units valued at N854,813 transacted last week in 6 deals.

In addition, 16,050 units of FGN bonds valued at N19.339 million were traded during the week in 66 deals in contrast to 6,460 units valued at N7.970 million transacted last week in 21 deals. However, there were no transactions in the State/Local Government Bonds and Corporate Bonds/Debentures sectors.

A review of the equity price movements indicated that 38 equities gained while 55 equities recorded price declines and 104 equities remained constant.

When compared with the preceding week, 51 equities gained while 42 equities recorded price declines and 104 equities remained constant.

Nestle Nigeria Plc led on the gainers chart with N54.77 kobo or 6.56 per cent, followed by Dangote Cement Plc with N15.00 kobo or 10.34 per cent, Total Nigeria Plc with N14.52 kobo or 10.60 per cent, Mobil Oil Nig Plc with N4.03 kobo or 3.20 per cent, Nigerian Breweries Plc with N2.01 kobo or 1.23 per cent, B.O.C. Gases Plc withN1.02 kobo or 15.57 per cent, Northern Nigerian Flour Mills Plc with N1.01 kobo or 4.99 per cent, NCR (Nigeria) Plc with N0.83 kobo or 4.96 per cent, Union Bank Nigeria Plc with N0.61 kobo or 6.50 per cent and DN Meyer Plc with N0.57 kobo or 34.97 per cent.

On the other hand, Guinness Nigeria Plc led with N13.70 kobo or 4.72 per cent, Julius Berger Nigeria Plc with N12.00 kobo or 18.18 per cent, Okomu Oil Palm Plc with N9.27 kobo or 15.04 per cent, Glaxo Smithkline Consumer Nig. Plc with N7.13 kobo or 12.94 per cent, Presco Plc with N5.08 kobo or 18.86 per cent, Lafarge Wapco Plc with N2.90 kobo or 4.20 per cent, Stanbic Ibtc Holdings Plc with N1.79 kobo or 11.93 per cent, International Breweries Plc with N1.75 kobo or 7.37 per cent, Berger Paints Plc with N1.68 kobo or 14.12 per cent and Ashaka Cem Plc with N1.62 kobo or 6.63 per cent.

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