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News Update (December 23, 2011 03:03 PM...)

Investors gain N211b this week, as Sterling Bank, UBA, Livestock top gainers'


Lagos (WorldStage Newsonline)-- Activities on the floor of the Nigerian Stock Exchange ended the week on a bullish note, as stocks appreciated by N211 billion as against N50 billion loss last week.

At the end of trading on Friday, the market capitalization gained N28 billion or 0.4 from N6.514 trillion Thursday to N6.542 trillion, while the all share Index also went up by 58.78 basis point or 0.77 from 20,604.48 to 20,763.26.

There were 22 companies in the gainers' table, led by Sterling Bank Plc with a gain of N0.05 kobo to close at N1.05 kobo per share while Livestock followed with a gain of N0.03 kobo to close at N0.63 kobo per share and United Bank For Africa (UBA), gained N0.13 kobo to close at N2.73 kobo per share.

On the other hand, 22 companies were on the losers' table, led by Fidson Plc which dropped N0.04kobo per cent to close at N0.74 kobo per share, while Total Plc followed with a loss of N9.90 kobo per cent to close at N188.10kobo per share and Skye Bank Plc with N0.21 kobo to close at N4.06 kobo per share.

On Friday's trading, a turnover of 247,673,862 shares worth N1.1 billion were recorded in 2,369 deals.

Also, a turnover of 1.55 billion shares worth N7.993 billion in 15,494 deals was recorded this week, in contrast to a total of 1.3 billion shares valued at N11.03 billion exchanged last week in 16,402 deals. The Financial Services sector accounted for 1.25 billion shares valued at N4.45 billion traded in 8,933 deals.

The banking sub-sector of the Financial Services sector was the most active during the week (measured by turnover volume); with 1.005 million shares worth N4.31 billion exchanged by investors in 8,350 deals. Volume in the sector was largely driven by activity in the shares of United Bank for Africa Plc and Fidelity Bank Plc. Trading in the shares of the two banks accounted for 567.4 million shares, representing 56.4 per cent , 45.5 per cent and 36.6 per cent of the turnover recorded by the sub-sector, sector and total turnover for the week, respectively.

The insurance sub-sector of the Financial Services sector, boosted by activity in the shares of Universal Insurance Company Plc and Guinea Insurance Plc, followed on the weeks activity chart with a sub-sector turnover of 242.45 million shares valued at N140.1 million traded in 573 deals.

Last week, the banking sub-sector led on the activity chart and was followed by the insurance sub-sector, both from the Financial Services sector.

There were no transactions executed through the stock market in the Federal Government Development Stocks, State Government Bonds and Industrial Loans/Preference Stocks sectors.

There were no transactions executed through the stock market in the Federal Government Development Stocks, State Government Bonds and Industrial Loans/Preference Stocks sectors.

On the price movement chart, the NSE All-Share Index appreciated by 737.32 points or 3.6 per cent to close on Friday at 20,763.26 while the market capitalization of the 186 First -Tier equities increased to N6.543 trillion.

Also, the NSE-30 Index appreciated by 36.56 points or 4.0 per cent to close at 931.76. Last week, the NSE-ASI and NSE-30 Indices appreciated by 1.2per cent and 1.5per cent, respectively.

Two of the four sectorial indices appreciated during the week same as during the preceding week. The NSE Food/Beverage Index appreciated by 26.15 points or 4.6per cent to close at 584.41 and the NSE Banking Index appreciated by 10.82 points or 4.1per cent to close at 273.90. However, the NSE Insurance Index depreciated by 0.54 points or 0.3per cent to close at 143.48 and the NSE Oil/Gas Index depreciated by 4.07 points or 1.8per cent to close at 221.07. Please note that the points and percentage changes in the NSE Indices are calculated by computing the daily changes in the index values.

Forty-one equities appreciated in price during the week, higher than the 22 of the preceding week. Three equities from the Consumer Goods sector occupied the top positions on the advancers table. As in the preceding week, Nestle Nigeria Plc led on the gainers table with a gain of N21.20 or 5.0 per cent to close at N445.66 per share while Guinness Nigeria Plc followed with a gain of N16.10 or 7.0 per cent to close at N245.00 per share.

Thirty-two stocks depreciated in price, lower than the forty-four of the preceding week. Total Nigeria Plc led on the price losers table, dropping by N9.90 or (5.0per cent) to close at N188.10 per share while Julius Berger Nigeria Plc followed with a loss of N1.36 or (4.1per cent) to close at N31.60 per share.

Story by Nkechi Naeche (nkechinaeche@yahoo.com)

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