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Stock market ends 2009 on bullish note, value rises N71bn

By Michael Eboh
TRANSACTIONS on the Nigerian Stock Exchange (NSE) ended the year 2009 on a bullish note, as the value of listed equities appreciated last week by N71.47 billion.

In particular, equities’ value, represented by the market capitalisation, rose by 1.45 per cent to close at N4.989 trillion from N4.917 trillion at which it opened the week.

The All-share index, another major performance indices also appreciated by 1.45 per cent, rising by 298.35 basis points to close at 20,827.17 points from 20,528.82 points at which it opened the week.

However, a significant decline was recorded in the market indices in the year 2009, as the market capitalisation which opened the year at N6.96 trillion dropped by 28.29 per cent, to close the year at N4.989 trillion, while the index dropped by 33.78 per cent to close at 20,827.17 points from 31,450.78 points at which it opened the year.

The improvement in the market indices was as a result of gains on the share prices of major blue chip companies, with Nigerian Breweries Plc recording the most share gain, rising by N3.02 to close at N53.02 per share, Nigerian Bottling Company Plc followed with a gain of N1.99 to close at N21.42 per share and Dangote Flour Mills Plc garnered N1.22 to close at N9.93 per share.

Other share price gainers include: Lafarge Cement WAPCO Nig. Plc N1.20, Northern Nigerian Flour Mills Plc N1.04, Zenith Bank Plc N0.81, Union Bank of Nigeria Plc N0.58, Dangote Sugar Refinery Plc N0.39, National Salt Company Plc N0.36, Afribank Nigeria Plc N0.36 among others.

Total Nigeria Plc, on the other hand, recorded the most share price loss, dropping by N2.60 to close at N149.00 per share, Alumaco Plc followed with a loss of N1.45 to close at N27.71 per share and Conoil Plc dipped by N1.45 to close at N27.63 per share.
Other share price losers include: UACN Property Development Company Plc N1.14, Flour Mills of Nigeria Plc N1.00, Eterna Oil & Gas Plc N0.81, Ecobank Nigeria Plc N0.55, Cadbury Nigeria Plc N0.55, Unilever Nigeria Plc N0.51, Nigerian Ropes Plc N0.48 among others.Equity trading appreciated by 7.7 per cent, as a turnover of 1.4 billion shares valued at N6.6 billion was recorded in 18,369 deals, in contrast to the prvious week’s turnover of  1.3 billion shares valuedat N11.01 billion in 15,731 deals.

The Banking sub-sector recorded the highest patronage in the sectorial analysis, accounting for 38.57 per cent of the market turnover, with 540.5 million shares valued at N3.71 billion in 7,907 deals. United Bank for Africa Plc enjoyed the most patronage in the sub-sector, trading 141.77 million shares valued at N1.52 billion in 576 deals, FinBank Plc followed with the exchange of 66.75 million shares valued at N34.06 million in 312 deals and Diamond Bank Plc recorded 49.7 million shares valued at N355.9 million in 272 deals.


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