By Peter Egwuatu
Investors in the Nigerian stock market , last week lost a total of N189 .5 billion or 2.17 per cent from their investment as the market capitalisation declined from N8.743 trillion recorded penultimate week to close N8.554 trillion.

In the same vein, the, All Share Index depreciated by 592.75 points or 2.17% to close on Friday at 26,763.84 from 27,356.59 recorded penultimate week

Market capitalisation is a stock market gauge that measure the value of investment listed on the Nigerian Stock Exchange (NSE). Similarly, the All share index is another stock market indicator that measure the trend or movement in the prices of shares listed on the Exchange.

The NSE 30 Index depreciated by 30.55 points or 2.49% to close at 1,173. Penultimate week, ASI and NSE 30 Index depreciated by 1.2% and 1.41%, respectively . All four sectorial indices depreciated during the week under review compared with two that so depreciated during the preceding week.

The NSE Food/Beverage Index depreciated by 12.81 points or 1.49% to close at 849.09, the NSE Banking Index depreciated by 4.29 points or 0.91% to close at 439.17, the NSE Insurance Index depreciated by 0.88 points or 0.46% to close at 185.41 and the NSE Oil/Gas Index depreciated by 3.4 points or 0.9% to close at 358.72. It should be noted that the points and percentage changes in the NSE Indices are calculated by computing the daily changes in the index values.

TURNOVER
A turnover of 1.76 billion shares worth N19.43 billion in 31,386 deals was recorded last week, in contrast to a total of 2.63 billion shares valued at N24.95 billion exchanged penultimate week in 35,419 deals. There were no transactions in the Federal Government Development Stocks, State Government Bonds and Industrial Loans/Preference Stocks sectors.

The Banking sub sector was the most active during the week (measured by turnover volume); with 1.31 billion shares worth N11.317 billion exchanged by investors in 18,750 deals. Volume in the Banking sub sector was largely driven by activity in the shares of Zenith Bank Plc, First Bank of Nigeria Plc, Oceanic Bank Plc and Guaranty Trust Bank Plc. Trading in the shares of the four banks accounted for 604.36 million shares, representing 46% and 34.4% of the sub sector(|s turnover and total volume traded during the week, respectively.

The Insurance sub sector, boosted by activity in the shares of AllCO Insurance Company Plc and N.E.M Insurance Company Plc, followed on the week(|s activity chart with a turnover of 88.8 million shares valued at N101.57 million in 1,326 deals. Last week, the Banking sub sector led on the activity chart and was followed by the Insurance sub sector.

PRICE MOVEMENT
Twenty four (24) stocks appreciated in price during the week under review, lower than the fifty five (55) of the penultimate week. 7 Up Bottling Company Plc led on the gainers table with a gain of N1.95 or (5%) to close at N40.95 per share while Berger Paints Plc followed with a gain of N1.21 or (12.74 %) to close at N10.71 per share. Other price gainers in the Top 10 category include: Cadbury Nigeria Plc N 1.20 Okomu Oil Palm Plc N0.73, Access Bank Plc N 0.49, Skye Bank Plc N 0.30, Neimeth N 0.29, Ecobank Transnational Incorporated Plc N0.29 .

On the other hand, Fifty eight (58) stocks depreciated in price during the week under review, higher than the thirty nine (39) of the penultimate week. Guinness Nigeria Plc led on the price losers(| table, dropping by N11.30 (or 5.28%) to close at N202.75 per share while Nigerian Breweries Plc followed with a loss of N7.86 (or 9.15%) to close at N78.00 per share. Other price losers in the Top 10 category include:

Total Nigeria Plc N5.67, Flour Mills Nigeria Plc N4.40, Dangote Cement Plc N3.75, Northern Nigerian Flour Mills Plc N2.19, Premier Paints Plc N1.23, UAC of Nigeria Plc N1.00, Vitafoam Nigeria Plc N 0.84, African Petroleum Plc N0.75.

OTC MARKET FOR FGN BONDS
A turnover of 250.1 million units worth N216,050.27 million in 2,076 deals was recorded last week, in contrast to a total of 261.98 million units valued at N224,160.43 million exchanged in 1,854 deals during the week ended Thursday, January 27, 2011.

The most active bond (measured by turnover volume) was the 10.00% FGN JULY 2030 (7th FGN Bond 2030 Series 3) with a traded volume of 92.7 million units valued at N71,885.38 million in 819 deals. This was followed by the 4.00% FGN April 2015 (7th FGN Bond 2015 Series 2) with a traded volume of 52.6 million units valued at N40,628.72 million in 444 deals.
Seven (7) of the available thirty three (33) FGN Bonds were traded during the week compared with fourteen (14) traded penultimate week.

COMPANIES CORE CARDS:
News Red Star Express Plc: Unaudited result for the third quarter ended 31st December 2010 shows Turnover of N3,196.54 million, as against N3,170.29 million in the comparable period of 2009. Profit after tax stood at N210.23 million compared with N251.86 million in 2009. The Net Asset Value stood at N1,290.71 million compared with N1,283.71 million in March 2010.

Tripple Gee & Company Plc: Unaudited result for the third quarter ended 31st December 2010 shows Turnover of N371.08 million, as against N358.83 million in the comparable period of 2009. Loss after tax stood at N43.36 million compared with N60.99 million in 2009. The Net Asset Value stood at N646.53 million compared with N801.78 million in March 2010.

United Nigeria Textiles Plc: Unaudited result for the third quarter ended 30th September 2010 shows Turnover of N5,686.44 million, as against N6,544.67 million in the comparable period of 2009. Loss before tax stood at N945.69 million compared with N961.39 million in 2009. The Net Asset Value stood at N3,260.40 million compared with N4,206.09 million in December 2009.

Fidson Healthcare Plc: Audited result for the year ended 30th June 2010. The Board of Directors is recommending a dividend of N0.10 Kobo per share. The date of closure of register of members was February 3rd 2011 while payment date is 10th March 2011. The Annual General Meeting is scheduled to hold at Sheraton Hotel and Towers Ikeja, Lagos State on Wednesday, 23rd February, 2011 by 12.00 noon.

Academy Press Plc: Unaudited result for the third quarter ended 31st December 2010 shows Turnover of N1,640.37million, as against N1,390.37 million in the comparable period of 2009. Profit after tax stood at N70.87 million compared with N74.68 million in 2009. The Net Asset Value stood at N655.51million compared with N568.263 million in March 2010.

Flour Mills of Nigeria Plc: Unaudited result for the third quarter ended 31st December 2010 shows Turnover of N122,707.68 million, as against N117,457.04 million in the comparable period of 2009. Profit after tax stood at N8,106.03 million compared with N8,527.59 million in 2009. The Net Asset Value stood at N40,074.07million compared with N35,384.78 million in March 2010.

COMPANY FORECASTS
Dn Meyer Plc: The company forecasts turnover of N492.58 million and profit after tax of N2.55 million during the first quarter ending March 31, 2011.

Stanbic IBTC Bank Plc: The Bank forecasts Net Operating Income of N15,518.37 million and profit after tax of N2,564.44 million during the first quarter ending March 31, 2011.

Neimeth International Pharmaceuticals Plc: The company forecasts turnover of N2,058.83 million and profit after tax of N95.8 million during the year ending March 31, 2011.

Equity Assurance Plc: The company forecasts Gross Premium of N1,000.00 million and profit after S tax of N139.97 million during the first quarter ending March 31, 2011.

COMPANIES NEWS
GUARANTY TRUST BANK PLC: Board Meeting The Bank notified The Exchange of its soon to be held Board Meeting aimed at considering the Company(|s Audited Financial Statements for the year ended December 31, 2010 and in which issues relating to dividend and scrip issue may be considered. It promised to keep the market abreast on decisions reached in due course.

VITAFOAM NIGERIA PLC: The Company notified the Exchange of its Annual General Meeting (AGM) scheduled to hold at Tahir Guest Palace, 4, Ibrahim Natsungune Road, Off Ahmadu Bello Way, Nassarawa, Kano State on Thursday, 17th February, 2011 by 10.00am.

ACCESS BANK PLC: The Bank notified the Exchange of its intentions to completely divest from its non banking subsidiaries namely, United Securities Limited and Access Investments and Securities Limited and integrate the operations of its Mortgage Banking subsidiary, Access Homes and Mortgages Limited into its Retail Banking Division. The Bank=s decision followed the approval it received from the Central Bank of Nigeria (CBN), to bring its operations in conformity with the provisions of CBN=s Regulations on Scope of Banking Activities and Ancillary Matters No. 3. 2010.

The Bank also notified the Exchange of resignation of Dr. Adewumi Desalu from its Board effective January 28, 2011. Following this, the Bank now has thirteen (13) Board members made up of six (6) Executive Directors and seven (7) Non Executive Directors.
Meanwhile, the price of Fidson Healthcare Plc was adjusted for year end dividend of N0.10 per share as recommended by the Board of Directors on Thursday, February 3, 2011.