Monday, 23 August 2010 00:00 By Moses Ebosele

 

INVESTORS thirst  for Banking stocks continued last week with the sub sector recording a turnover of 1.2 billion shares worth N11.61 billion in 36,855 deals compared to N11.3 billion exchanged last week in 33,065 deals.

Specifically, at the close of transactions on Friday, the banking sub sector emerged as the most active during the week when measured by turnover volume with 692.9 million shares worth N5.8 billion exchanged by investors in 16,423 deals.

 

Volume in the Banking subsector was lifted by activity in the shares of First Bank of Nigeria Plc, Zenith Bank Plc, Fidelity Bank Plc and Access Bank Plc.

 

Trading in the shares of the four banks accounted for 319.36 million shares, representing 46.1 per cent and 27.2 per cent of the subsector’s turnover and total volume traded during the week, respectively.

 

The Insurance subsector, boosted by activity in the shares of AIICO Insurance Plc and Guaranty Trust Insurance Plc, followed on the week’s activity chart with a turnover of 96.1million shares valued at N108.3 million in 1,459 deals.

 

Also within the period under review, the Over-The-Counter (OTC) bond market recorded a turnover of   turnover of 239.15 million units worth N243.9 billion in 2,890 deals, in contrast to a total of 166.74 million units valued at N170.8 billion exchanged in 1,762 deals during the week ended Thursday, August 12, 2010.

 

Information obtained from the Nigerian Stock Exchange (NSE) explained that the most active bond when measured by turnover volume was the 10.00 FGN July 2030 with a traded volume of 50.45 million units valued at N49.4 billion in 943 deals.

 

This was followed by 4.00 per cent FGN April 2015 with a traded volume of 34.5 million units valued at N28.8 billion in 336 deals.

 

Eighteen of the available thirty-seven FGN Bonds were traded last week, compared with twenty in the in the preceding week.

On the price movement chart, the NSE All-Share Index appreciated by 122.06 points or 0.5 per cent to close on Friday at 25,106.86 while the market capitalisation of the 199 First -Tier equities closed higher at N6.14 trillion.

 

Also, the NSE-30 Index appreciated by 7.07 points or 0.7 per cent to close at 1,045.92. All the four sectorial indices depreciated during the week. The NSE Food/Beverage Index depreciated by 1.45 points or 0.2 per cent to close at 810.17, the NSE Banking Index depreciated by 1.38 points or 0.35 per cent to close at 372.12, the NSE Insurance Index depreciated by 2.83 points or 1.6 per cent to close at 174.39 and the NSE Oil/Gas Index depreciated by 5.84 points or 1.56 per cent to close at 370.44.

 

Thirty-eight stocks appreciated in price during the week, higher than the twenty-eight  of the preceding week.

 

Also, as in the preceding week, Northern Nigeria Flour Mills Plc led on the gainers’ table with a gain of N5.83 to close at N42.84 per share while Nigerian Breweries Plc followed with N4.59 to close at N72.60 per share.

 

Forty-nine stocks depreciated in last week, lower than the sixty-four  of the preceding week. African Petroleum Plc led on the price losers’ table, dropping by N5.79 to close at N21.20 per share while Flour Mills of Nigeria Plc followed with a loss of N3.01 to close at N71.00 per share.

 

Source: Guardian