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OTC records N340b transactions
August 10, 2009

TRANSACTIONS at the Over-the-Counter bond market last week, recorded a marginal slide as investors staked a total of N340.1 billion on 303.82 million units of bonds, 2.62 per cent lower than the preceding week's volume of 312 million units valued at N344.6 billion.

Although, there were no transactions in the Federal Government development stocks, State Government Bonds and Industrial Loans/Preference Stocks sectors, the 5th FGN Bond 2028 Series 5 emerged the most active bond during the week with a traded volume of 55.0 million units valued at N78.1 billion, followed by the 4th FGN Bond 2014 Series 3 with a traded volume of 31.6 million units worth N36 billion.

Meanwhile, authorities of the Nigerian Stock Exchange (NSE), have delisted two FGN Bonds from the Daily Official List on maturity and confirmation of repayment.

Precisely, the 3rd FGN Bond 2009 Series 4 and 3rd FGN Bond 2009 Series 6, were delisted last week. By this action, the number of listed FGN Bonds and securities dropped to 30 and 293, respectively.

On the week's activity chart, investors increased their stake in the equities sector as a turnover of 3.11 billion shares worth N24.63 billion changed hands, up from a total of 2.5 billion shares valued at N17.75 billion exchanged in the previous week.

On the other hand, the All-Share Index which opened the week at 25,686.16 points, closed lower at 25,382.50 points, while market capitalisation closed atN5.82 trillion from N5.88 trillion on Monday.

For the sectors, two of the four sectoral indices appreciated, while the other two depreciated. Specifically, the NSE Food/Beverages Index rose by 0.07 per cent to close at 508.86 points, followed by the NSE Banking Index with 0.35 per cent to close at 413.66 points.

However, The NSE Insurance Index dropped by 1.33 per cent to close at 344.00 points, while The NSE Oil/Gas Index dropped by 4.3 per cent to close at 344.04 points.

On the week's price movement chart, Nestle Nigeria Plc led 39 other price gainers with a gain of N27.45 to close at N198.45 per share followed by Lafarge Cement WAPCO Nigeria Plc with 453 kobo to close at N35.40 per share, while UAC of Nigeria Plc added 399 kobo to close at N40.00 per share.

Other price gainers for the week include, Nigerian Breweries Plc, Unilever Nigeria Plc, Guinness Nigeria Plc and Ashaka Cement Plc, all of which added 300 kobo, 181 kobo, 150 kobo and 130 kobo each to close at N55.50, N15.06, N139.50 and N15.00 respectively.

On the other hand, three Petroleum Marketing stocks, African Petroleum Plc, Total Nigeria Plc and Conoil Plc, all led 66 other stocks to suffer price depreciation by N10.36, 601 kobo and 273 kobo each to close at N62.32, N152.00 and N49.40 respectively.

A close look of activities in the equities sector, showed that the Banking sub-sector was the most active in volume terms during the week trading 1.01 billion shares worth N9.42 billion, followed by the Hotel and Tourism sub-sector with a turnover of 927.81 million shares valued at N3.1 billion.

Further analysis of activities in the sub-sectors, revealed that the volume of the banking sub-sector was largely driven by activity in the shares of Zenith Bank Plc, First Bank of Nigeria Plc, Skye Bank Plc and Access Bank Plc.

Trading in the shares of the four banks accounted for 425.32 million shares, representing 42.3 per cent of the sub-sector's turnover, while activity in the shares of Tourist Company of Nigeria Plc and Capital Hotel Plc, boosted the Hotel and Tourism sub-sector's volume.

The Guardian Newspaper, Monday August 10, 2009

 

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