23 March 2013

Nigeria Bourse Erases Losses With N178 Billion Gains

Lagos — Trading activities on the Nigerian Stock Exchange (NSE) this week erased the previous week losses as major market indicators closed higher.

The market captialisation of 186 listed equities gained N178 billion representing 1.69 per cent to close the week with N10.722 trillion.

Market outlook during the week reveals growing price volatility with increased chance to extend speculative trading in the coming sessions. The sustained active value investing salvages the week as trends swing in and out of red zone considerably.

The NSE All-Share Index appreciated by 556.80 points or 1.69 per cent to close on Friday at 33.506.88 while the market capitalization of the listed equities on the mainboard increased to N10.722 trillion.

Also, the Bloomberg NSE 30 Index appreciated by 18.88 points or 1.20 per cent to close at 1,597.35.

Also, the NSE Lotus II appreciated by 77.58 points or 3.68 per cent to close at 2,184.34. While the Bloomberg NSE Consumer Goods, Bloomberg NSE Banking, Bloomberg NSE Insurance, and Bloomberg NSE Oil/Gas depreciated by 0.94 per cent, 1.32 per cent, 0.86 per cent and 1.36 per cent respectively.

Meanwhile, the equities market closed Monday on a positive trend, as the market capitalization appreciated by N94 billion or 0.89 per cent, to close at N10.638 trillion compared with the depreciation of 0.77 per cent recorded on Friday to close at N10.544 trillion. The NSE ASI appreciated by 293.46 basis points or 0.89 per cent to close at 33,243.54 points, compared with the depreciation of 0.77 per cent recorded on Friday.

Trading on Monday also indicates that NSE LII, Oil & Gas and NSE-30 stocks were the most supportive as captured by the NSE sector indices.

Similarly, the equities market closed Tuesday on positive note, as the NSE ASI appreciated by 0.17 per cent to close at 33,298.74 points.

The appreciation in the Index is as a result of the gains recorded in the share prices of Cadbury, Stanbic IBTC Bank, Zenith Bank, Ecobank Transnational Incorporation, First Bank of Nigeria Holding, Nigerian Breweries, United Bank for Africa, Dangote Cement and Guinness Nigeria. The market capitalization also appreciated by 0.17 per cent, to close at N10.65 trillion.

NSE-Insurance, NSE-Bank and NSE-30 stocks were the most supportive as captured by the NSE sector indices.

During the day, bargain appetite and optimism remain weak while investors maintain cautious posture towards equities.

On Wednesday, the equities market recorded downward trend as market capitalization depreciated by N29 billion to close at N10.62 trillion while the NSE ASI depreciated by 0.27 per cent to close at 33,207.21 points.

NSE-Insurance, NSE-LII and NSE-Food stocks were the most hit as captured by the NSE sector indices.

Trading activities on Thursday erase previous loss as market capitalization appreciated by N50 billion to close at N10.67 trillion. Also, the NSE ASI gained 0.47 per cent to close at 33,361.96 points.

NSE-LII, NSE-30 and NSE-Food stocks were the most supportive today as captured by the NSE sector indices.

Friday activities indicate that stocks hold breadth as firm return 0.43 per cent gains. The NSE ASI appreciated by 144.92 points to close at 33,506.88 points.

The market capitalization also appreciated by N46 billion or 0.43 per cent, to close at N10.72 trillion.

A turnover of 1.561 billion shares worth N16.636 billion in 25,255 deals were transacted this week on the floor of the exchange in contrast to a total of 2.550 billion shares valued at N21.694 billion that exchanged hands last week in 29,335 deals. The Financial Services sector accounted for 1.211 billion shares valued at N11.312 billion exchanged hands by investors in 15,414 deals.

The Banking subsector of the Financial Services sector was the most active during the week (measured by turnover volume) with 921.900 million shares worth N9.471 billion exchanged by investors in 10,723 deals. Volume in the Banking subsector was largely driven by activities in the shares of Access Bank Plc, UBA Plc and Guaranty Trust Bank Plc. Trading in the shares of the three banks accounted for 453.380 million shares, representing 49.18 per cent of the turnover volume recorded by the subsector for the week.

Also traded during the week were 192 units of NewGold Exchange Traded Funds (ETFs) valued at N476.541 million executed in 4 deals compared with a total of 577 units valued at N1.405 million transacted last week in 7 deals.

During the week under review, 22 equities appreciated in price during the week lower than 41 equities of the preceding week. Forty five equities depreciated in price higher than 37 equities of the preceding week. One hundred and thirty equities remained constant during the week in contrast to 119 equities of the preceding week.

Nestle Nigeria Plc led on the gainers chart with N17.00 kobo or 2.02 per cent, followed by Dangote Cement Plc with N13.50 kobo or 9.54 per cent, Okomu Oil Palm Plc with N6.00 kobo or 10.91 per cent, Lafarge Wapco Plc with N4.12 kobo or 5.73 per cent, Presco Plc with N1.60 kobo or 6.81 per cent, Cadbury Nigeria Plc with N1.38 kobo or 4.11 per cent, Ashaka Cement Plc with N0.91 kobo or 3.96 per cent, Cap Plc with N0.90 kobo or 2.49 per cent, Flour Mills Nigeria Plcwith N0.75 kobo or 0.98 per cent and Berger Paints Plc with N0.49 kobo or 4.92 per cent.

On the losers chart, Guinness Nigeria Plc led with a loss of N10.50 kobo or 3.81 per cent,

Nigerian Breweries Plc with N3.73 kobo or 2.24 per cent loss and MRS Oil Nigeria Plc with N2.67 kobo or 9.69 per cent.

Other losers are UACN Plc with N1.95 kobo 3.55 per cent loss, UACN Property Development Co. Plc with N1.76 kobo or 11.00 per cent, PZ Cussons Nigeria Plc with N1.50 kobo or 3.66 per cent, Glaxo Smithkline Consumer Nigeria Plc with N1.39 kobo or 2.84 per cent, Conoil Plc with N1.26 kobo or 5.00 per cent, Cement Company of Northern Nigeria Plc with N0.90 kobo or 6.93 per cent, and Zenith Bank Plc with a loss of N0.58 kobo or 2.69 per cent.

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