Stock Market Weekly Summary: February 15, 2013

A turnover of 4.25 billion shares worth ₦23.18 billion in 39,391 deals were transacted last week on the floor of The Exchange in contrast to a total of 3.57 billion shares valued at ₦24.69 billion recorded in the previous week in 39,321 deals.

The Financial Services sector continued its dominance as the most active during the week, contributing 76.53%, 61.87%, 60.51% to the total equity turnover volume, value and number of trades respectively in 3.252 billion shares valued at ₦14.34 billion.

Unity Bank Plc from the Banking subsector, International Energy Insurance Company Plc and Sovereign Trust Insurance Plc of Insurance Carriers, Brokers and Services subsector of the Financial Services sector were the most active during the week, in terms of turnover volume.

Trading in the shares of the three equities accounted for 888.79 million shares worth ₦700.62 million in 2,634 deals, representing 27.33% and 20.92% of the turnover volume recorded by the sector and total turnover for the week, respectively.

Conglomerates Sector Followed
The Conglomerates sector followed with a total turnover volume of 363.53 million shares worth ₦964.62 million. Similar to the previous week, volume in the sector was largely driven by the shares of Transnational Corporation of Nigeria Plc with a turnover volume of 355.10 million shares valued at ₦698.51 million.

Also traded during the week were 339 units of NewGold Exchange Traded Funds (ETFs) valued at ₦854,813 exchanged hands in 6 deals in contrast to a total of 539 units valued at ₦1.38 million transacted the preceding week in 4 deals.

In addition, 6,460 units of FGN bonds valued at ₦7.97 million were traded during the week in 21 deals. However, there were no transactions in the State/Local Government Bonds and Corporate Bonds/Debentures sectors.

Index Movement
The NSE All-Share Index depreciated by 55.04 points or 0.17% to close on Friday at 33,258.45 basis points. Also, the market capitalisation of the listed equities depreciated by 0.15% to close at ₦10.64 trillion.

Three of the NSE sectorial indices depreciated: Bloomberg NSE 30, Bloomberg NSE Consumer Goods and Bloomberg NSE Banking by 3.81%, 3.22% and 4.40% respectively, while Bloomberg NSE Insurance, Bloomberg NSE Oil/Gas and NSE Lotus II appreciated by 4.19%, 1.22% and 6.03%, respectively.

A review of the equity price movements indicated that 51 equities gained while 42 equities recorded price declines and 104 equities remained constant.

New Listing/Supplementary Listing
Gombe State ₦20 Billion Fixed Rate Bond (Series 1) 2012/2019 Under the ₦30 billion Debt Issuance Programme was admitted on the Daily Official List of The Exchange on 11th February, 2013.

In a related development, 3.07 billion ordinary shares were added to the paid-up share capital of Crusader Nigeria Plc on February 15, 2013. This is the resultant shares from the Crusader (Nigeria) Plc –Bond Conversion of ₦1.84 billion Zero-Coupon Unsecured Subordinated Irredeemable Convertible Debenture of ₦100.

Consequently, Crusader (Nigeria) Plc – Bond Conversion of ₦1.84 billion Zero-Coupon Unsecured Subordinated Irredeemable Convertible Debenture of ₦100 was delisted from the Daily Official List of The Exchange after the conversion.