Stocks: Access, Zenith drive market

Invariably, a turnover of 1.9 billion shares worth N14.45 billion in 34,643 deals was recorded during the  week, in contrast to a total of 2.73 billion shares valued at N18.94 billion exchanged in the previous week in 36,457 deals. There were no transactions in the Federal Government Development Stocks, State Government Bonds and Industrial Loans/Preference Stocks sectors.

The Banking subsector was the most active during the week (measured by turnover volume), with 958.2 million shares worth N8.4 billion exchanged by investors in 18,654 deals. Volume in the Banking subsector was largely driven by activity in the shares of Access Bank Plc, Zenith Bank Plc and First Bank of Nigeria Plc. The NSE All-Share Index appreciated by 0.45 per cent to close on Friday at 22,967.26.   

The Insurance subsector, boosted by activity in the shares of Custodian and Allied Insurance Plc and Lasaco Assurance Plc, followed on the week’s activity chart with a turnover of 290.9 million shares valued at N341.5 million in 2,495 deals. Last week, the Banking subsector led on the activity chart and was followed by the Information and Communication Telecommunication subsector.

Price Movement: The NSE All-Share Index appreciated by 0.45 per cent to close on Friday at 22,967.26. The market capitalization of the 200 First -Tier equities closed lower at N5.53 trillion. Also, The NSE-30 Index appreciated by 0.78 per cent to close at 914.30. One of the four sectoral indices appreciated – The NSE Food/Beverages Index appreciated by 1.25 per cent to close at 593.92. However, the NSE Banking Index depreciated by 0.34 per cent to close at 380.00, the Insurance Index depreciated by 0.82 per cent to close at 213.94 and the NSE Oil/Gas Index depreciated by 1.74 per cent to close at 293.84. Also, 31 stocks appreciated in price during the week, lower than the 52 of the preceding week.

Flour Mills Nigeria Plc led on the gainers’ table with a gain of N3.99 to close at N42.00 per share while Nigerian Breweries Plc followed with N3.00 to close at N60.00 per share. Other price gainers’ include  Ashaka Cement Plc with N1.04 , Unilever Nigeria Plc N1.00, Guinness Nigeria Plc N0.98, Dangote Flour Mills Plc N0.62, Cadbury Nigeria Plc N0.49, Presco Plc N0.44, Guaranty Trust Bank Plc N0.44  and RT Briscoe (Nig) Plc with N0.33

Also, 64 stocks depreciated in price during the week, higher than the 50 of the preceding week. Total Nigeria Plc led on the price losers’ table, dropping by N7.50 to close at N142.50 per share while Chemical & Allied Products Plc followed with a loss of N2.73 to close at N25.27 per share. Other price losers include Nestle Nigeria Plc with N2.00, BOC Gases Plc N1.63, Ecobank Nigeria Plc N1.49

Nig Bottling Co. Plc N1.40, UAC of Nigeria Plc N1.39, African Petroleum Plc N1.37, The Okomu Oil Palm Plc N1.13 and UACN Property Development Company Plc with N1.00

Meanwhile, a total of 130,000,000 shares were added to the shares outstanding in the name of African Paints Plc on Wednesday, February 10th 2010 following the conclusion of Placing with Charing Management Limited. Full Suspension Afprint Nigeria Plc was placed on full suspension on Friday, February 12, 2010 on receiving the request from the Board of Directors preparatory to delisting.