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Stocks: NSE admits C & I Leasing as ASI drops by 0.8%

Besides, a turnover of 1.5 billion shares worth N9.83 billion in 27,756 deals was recorded this week, in contrast to a total of 1.73 billion…

Besides, a turnover of 1.5 billion shares worth N9.83 billion in 27,756 deals was recorded this week, in contrast to a total of 1.73 billion shares valued at N10.84 billion exchanged previous week in 34,256 deals. This included a total of 1,000 units of Lagos State Fixed Rate Redeemable Bond worth N1.1 million. The stock market opened for four days as Friday was declared public holiday in commemoration of Id-el-maulud. There were no transactions in the Federal Government Development Stocks and Industrial Loans/Preference Stocks sectors.

  The Banking subsector was the most active during the week (measured by turnover volume), with 813.51 million shares worth N6.5 billion exchanged by investors in 14,155 deals. Volume in the Banking subsector was largely driven by activity in the shares of Ecobank Nigeria Plc, FinBank Plc and Zenith Bank Plc. Trading in the shares of the three Banks accounted for 272.35 million shares, representing 33.5 per cent of the subsector’s turnover.

The Insurance subsector, boosted by activity in the shares of Standard Alliance Insurance Plc and Universal Insurance Company Plc, followed on the week’s activity chart with a turnover of 230.03 million shares valued at N177.03 million in 2,056 deals. Last week, the Banking subsector led on the activity chart and was followed by the Insurance subsector.

Price Movement: The NSE All-Share Index depreciated by 0.8 per cent to close on Thursday at 22,985.00. The market capitalization of the 199 First -Tier equities closed lower at N5.53trillion. Also, The NSE-30 Index depreciated by 0.56 per cent to close at 919.77. Last week, ASI and NSE-30 Index appreciated by 0.9 per cent and 1.2 per cent, respectively. Two of the four sectoral indices appreciated – The NSE Food/Beverages Index appreciated by 1.6 per cent to close at 618.60 while the NSE Oil/Gas Index appreciated by 4.63 per cent to close at 309.59. However, the NSE Banking Index depreciated by 0.91 per cent to close at 380.84 while the NSE Insurance Index depreciated by 3.9 per cent to close at 200.79.

   Also, 34 stocks appreciated in price during the week, lower than the 47 of the preceding week. African Petroleum Plc led on the gainers’ table with a gain of N7.96 to close at N47.46 per share while Chemical and Allied Products Plc followed with N3.96 to close at N29.74 per share. Other price gainers include Conoil Plc with N3.17, Nestle Nigeria Plc N2.00, UAC of Nigeria Plc N1.28, Northern Nigeria Flour Mills Plc N1.20, Ecobank Nigeria Plc N1.04, UACN Property Development Co. Plc, N1.00, Glaxo Smithkline Consumer (Nig) Plc N0.80 and Honeywell Flour Mills Plc – N0.68

Similarly,70 stocks depreciated in price during the week, higher than the 50 of the preceding week. Nigerian Breweries Plc led on the price losers’ table, dropping by N3.00 to close at N57.00 per share while BOC Gases Plc followed with a loss of N1.11 to close at N10.39 per share. Other price losers include RT Briscoe (Nig) Plc with N0.96, Alumaco Plc N0.83, DN Meyer Plc N0.70, Beta Glass Co. Plc N0.67, United Bank for Africa Plc N0.66, Morison Industries Plc N0.61, Eterna Oil & Gas Plc N0.50  and Flour Mills of Nigeria Plc with N0.41

     However, the exchange also lifted technical suspension on African Paints (Nig) Plc on Wednesday, February 24, 2010.

Meanwhile, the Nigerian stock Exchange (NSE) may soon introduce a new trading platform for investors with unlisted securities on the floor of the market. The investors had acquired shares through private placements but were not listed on the floor.

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