BY  PROVIDENCE OBUH

L-R, Regional Director Africa, AME&T Analytics, Mr, Segun Senbanjo,Group Managing Director/CEO, AME&T Switzerland, Mr Olusegun Paul Andrew, Managing Director, Global Association of Risk Professionals, UK, Mr, Alastair Graham and the Deputy Governor, Financial System Stability

Following the maturity of the 14.50 per cent, 3rd FGN Bond 2011 Series 3, the Nigerian Stock Exchange (NSE) announced last week that it has de_listed it from the market.

However, investors in the capital market lose N146.44 billion of their investment in shares.

Specifically, equities’ value represented by the market capitalisation of the 201 First _Tier equities dropped by 1.72 per cent to close at N8.368 trillion from N8.514 trillion at which it opened the week.

The NSE All_Share Index, depreciated by 458.17 points or 1.72 per cent to close on Friday at 26,181.18 from at 26,639.35 points.

The NSE_30 Index depreciated by 18.60 points or 1.59 per cent to close at 1,148.12. Last week, ASI depreciated by 0.17 per cent while NSE_30 Index appreciated by 0.21 per cent. Three of the four sectorial indices appreciated during the week compared with two that so appreciated during the preceding week. The NSE Food/Beverage Index appreciated by 17.77 points or 2.07 per cent to close at 881.34, the NSE Insurance Index appreciated by 7.61 points or 4.25 per cent to close at 185.13, the NSE Oil/Gas Index appreciated by 1.31points or 0.38 per cent to close at 346.89 while the NSE Banking Index depreciated by 12.63 points or 2.87 per cent to close at 428.50 .

Top ten gainers and losers Nigerian Breweries Plc led 62 stocks on the price losers’ table, during the week, higher than the 49 of the preceding week dropping by N3.50 or 4.4 per cent to close at N76 per share, Northern Nigerian Flour Mills Plc followed with a loss of N2.08 or 5 per cent to close at N39.69 per share and Dangote Cement Plc dipped by N2.00 or 1.56 per cent to close at N126.00 per share.

Other share price losers include: African Petroleum Plc N1.31, Ashaka Cement Plc N1.10, Oando Plc N1.00, Lafarge Cement Wapco Nigeria Plc N1.00, UAC of Nigeria Plc N0.71, First Bank of Nigeria Plc N0.69, NCR Nigeria Plc N0.67, among others.

Nestle Nigeria Plc led 29 other stocks on the gainers’ table with a gain of N28.45 or 6.6 per cent to close at N460 per share, Mobil Oil Nigeria Plc followed with a gain of N14.45 or 10.25 per cent to close at N155.45 per share and Guinness Nigeria Plc garnered N4.33 or 2.25 per cent to close at N196.95 per share.

Other share price gainers’ include: Chemical and Allied Products Plc N1.70, Flour Mills Nigeria Plc N1.61, Nigeria Bottling Company Plc N1.10, Cadbury Nigeria Plc N0.90, 7_UP Bottling Company Plc N0.51, Champion Breweries Plc N0.29, Guaranty Trust Assurance Plc N0.22, among others.

Market Turnover

A turnover of 1.966 billion shares valued at N18.51 billion was recorded in 33,509 deals as transaction appreciated by 51.58 per cent in the week under review, in contrast to the penultimate week’s turnover of 1.297 billion shares valued at N11.16 billion exchanged in 24,011 deals.

The Banking subsector was the most active during the week accounting for 73.75 per cent, (measured by turnover volume); with 1.45 billion shares valued at N11.59 billion exchanged by investors in 19,678 deals. Volume in the Banking subsector was largely driven by activity in the shares of United Bank for Africa Plc trading 355.82 million shares valued at N3.58 billion in 1,135 deals, Zenith Bank Plc followed with the exchange of 118.34 million shares valued at N1.85 billion in 2,424 deals, First Bank of Nigeria Plc recorded 110.64 million shares valued at N1.72 billion in 3,951 deals and Wema Bank Plc traded108.26 million shares valued N188.27 million in 403 deals. Trading in the shares of the four banks accounted for 693.08 million shares, representing 47.77 per cent and 35.24 per cent of the subsector’s turnover and total volume traded during the week, respectively.

The Insurance followed on the week’s activity chart accounting for 5.80 per cent, with a turnover of 114.04 million shares valued at N77.87 million in 925 deals. Mutual Benefits Assurance Plc boosted activity in the sub_sector trading 60.31 million shares valued at N30.15 million in 22 deals, AllCO Insurance Company Plc, followed with the exchange of 15.16 million shares valued at N15.59 million in365 deals and Universal Insurance Company Plc recorded 9.02 million shares valued at N4.51 million in 15 deals.

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

OTC MARKET FOR FGN BONDS

A turnover of 277.55 million units worth N258,331.87 million in 1,274 deals was recorded last week, in contrast

to a total of 199.35 million units valued at N174,788.43 million exchanged in 1,466 deals during the week ended Thursday, February 17, 2011. The most active bond (measured by turnover volume) was the 5.50 per cent FGN February 2013 (7th FGN Bond 2013 Series 1) with a traded volume of 93 million units valued at N89,475.26 million in 321 deals.

This was followed by the 10.00 per cent FGN July 2030 (7th FGN Bond 2030 Series 3) with a traded volume of 55.9 million units valued at N44,563.82 million in 471 deals. 14 of the available 32 FGN Bonds were traded during the week compared with 12 in preceding week.