Stocks: IFC stakes $24.5m on Diamond bank shares

However, trading activities on the floor of the Nigeria stock market gained a slight N6.74 billion to close at N6.742 trillion against the opening of N6.703 trillion on Friday.

Specifically, a turnover of 2.25 billion shares worth N19.5 billion in 43,941 deals was recorded this week, in contrast to a total of 1.75 billion shares valued at N17.11 billion exchanged last week in 25,710 deals.

Also, The Banking subsector was the most active during the week (measured by turnover volume), with 893.56 million shares worth N8.71 billion exchanged by investors in 20,207 deals. Volume in the Banking subsector was largely driven by activity in the shares of Skye Bank Plc, UBA Plc and First Bank of Nigeria Plc. Trading in the shares of the three Banks accounted for 347.2 million shares, representing 38.85 per cent and 15.43 per cent of the subsector’s turnover and total volume traded during the week, respectively. The Insurance subsector, boosted by activity in the shares of Guaranty Trust Assurance Plc and Mutual Benefits Assurance Plc, followed on the week’s activity chart with a turnover of 632 million shares valued at N1.01 billion in 2,803 deals. Last week, the Banking subsector led on the activity chart and was followed by the Insurance subsector.

The NSE All-Share Index appreciated by 249.77 points or 0.91 per cent to close on Friday at 27,753.13 while the market capitalization of the 198 First -Tier equities closed higher at N6.75 trillion. Also, The NSE-30 Index appreciated by 20.12 points or 1.8 per cent to close at 1,145.24. Last week, ASI and NSE-30 Index appreciated by 3.92 per cent and 3.75 per cent, respectively. Three of the four sectoral indices appreciated by the end of the week, same as in the preceding week. The NSE Food/Beverages Index appreciated by 30.8 points or 3.7 per cent to close at 865.75, the NSE Banking Index appreciated by 1.56 points or 0.4 per cent to close at 440.43, the NSE Oil/Gas Index appreciated by 127.95 points or 7.1 per cent to close at 414.53. However, the NSE Insurance Index depreciated by 3.22 points or 1.5 per cent to close at 206.11.

Also, 48 stocks appreciated in price during the week, lower than the 76 of the preceding week. Also as in the preceding week, Total Nigeria Plc led on the gainers’ table with a gain of N31.25 to close at N236.00 per share while Oando Plc followed with N9.35 to close at N123.90 per share. Other price gainers’include  Cadbury Nigeria Plc with N7.52, MRS Oil Nigeria Plc N7.14, Glaxo Smithkline Consumer (Nig) Plc – N4.92, Julius Berger Nigeria Plc N4.55, African Petroleum Plc N3.89, UACN Property Dev. Co. Plc N3.62, Benue Cement Company Plc N3.00 and UAC of Nigeria Plc with N2.06

Also, 66 stocks depreciated in price during the week, higher than the 33 of the preceding week. Also as in the preceding week, Mobil Oil Nigeria Plc led on the price losers’ table, dropping by N7.94 to close at N150.90 per share while Northern Nigeria Flour Mills Plc followed with a loss of N3.61 to close at N33.58 per share. Other price losers include Flour Mills Nigeria Plc with N3.40,  Nig. Enamelware Plc N2.26, Ecobank Transnational Inc. N1.61, The Okomu Oil Palm Plc N1.54, Nigerian Breweries Plc N1.50, Chellerams Plc N1.06 Nigerian Aviation Handling Co. Plc N0.94, and Unilever Nigeria Plc – N0.91

At least four equity prices were adjusted for dividend and/or bonus as recommended by the Board of Directors. Access Bank Plc was adjusted for bonus of 1 for 10. Stanbic IBTC Bank Plc was adjusted for dividend of N0.30 per share. Beco Petroleum Products Plc was adjusted for dividend of N0.01 per share. Beta Glass Co. Plc was adjusted for dividend of N0.36 per share.

…Supplementary Listings A total of 301,694,876 shares were added to the shares outstanding in the name of Oando Plc on Tuesday, May 11, 2010 following the conclusion of the Rights Issue. Also, a total of 1,643,725,927 shares were added to the shares outstanding in the name of Access Bank Plc on Thursday, May 13, 2010 following the bonus of 1 for 10.