Stock Market Weekly Summary: February 8, 2013

A turnover of 3.57 billion shares worth ₦24.69 billion in 39,321 deals were transacted last week on the floor of the Nigerian Stock Exchange (NSE) in contrast to a total of 2.81 billion shares valued at ₦22.19 billion in the previous week in 33,123 deals.

The Financial Services sector sustained its dominance as the most active during the week, contributing 70.75%, 66.16%, 58.71% to the total equity turnover volume, value and number of trades respectively in 2.53 billion shares valued at ₦16.34 billion.

Similarly, the Banking subsector of the Financial Services sector was the most active during the week (measured by turnover volume); with 1.78 billion shares worth ₦13.05 billion traded in 16,104 deals. Volume in the Banking subsector was largely driven by activities in the shares of Unity Bank Plc, Access Bank Plc, and UBA Plc. Trading in the shares of the three banks accounted for 800.44 million shares, representing 44.96%, 31.68% and 22.41% of the turnover volume recorded by the subsector, sector and total turnover for the week, respectively.

The Conglomerates sector followed with a total turnover volume of 473.15 million shares worth ₦1.05 billion in 2,341 deals. Volume in the sector was largely driven by the shares of Transnational Corporation of Nigeria Plc with a turnover volume of 465.21 million shares valued at ₦803.04 million in 1,826 deals.

Also traded during the week were 539 units of NewGold Exchange Traded Funds (ETFs) valued at ₦1.38 million exchanged hands in 4 deals in contrast to a total of 234 units valued at ₦595, 49 transacted last week in 5 deals.

In addition, 1,670 units of FGN bonds valued at ₦2.09 million were traded during the week in 41 deals. However, there were no transactions in the State/Local Government Bonds and Corporate Bonds/Debentures sectors.

Index Movement/Supplementary Listings
The NSE All-Share Index appreciated by 901.63 points or 2.78% to close on Friday at 33,313.49 basis points. Also, the market capitalisation of the listed equities appreciated by 2.78% to close at ₦10.66 trillion.

All the NSE sectoral indices appreciated: Bloomberg NSE 30 appreciated by 2.63%, Bloomberg NSE Consumer Goods by 2.47%, Bloomberg NSE Banking by 3.40%, Bloomberg NSE Insurance by 14.21%, while Bloomberg NSE Oil/Gas and NSE Lotus II appreciated by 1.70% and 4.11% respectively.

A review of the equity price movements indicated that 73 equities gained while 18 equities recorded price declines and 106 equities remained constant.

Meanwhile, a total volume of 30.96 million shares resulting from the bonus issue was added to the outstanding shares of Guinness Nigeria Plc on Friday, 8th February, 2013; bringing the total outstanding shares to 1.51 billion.