Stock Market Weekly Summary: February 1, 2013

A turnover of 2.813 billion shares worth ₦22.188 billion in 33,123 deals were transacted last week on the floor of the Nigerian Stock Exchange (NSE) in contrast to a total of 2.612 billion shares valued at ₦19.152 billion that exchanged hands the previous week in 27,186 deals.

The Financial Services sector was the most active during the week, contributing 79.64% to the total equity turnover volume with 2.240 billion shares valued at ₦14.761 billion.

Similarly, the Banking subsector of the Financial Services sector was the most active during the week (measured by turnover volume); with 1.583 billion shares worth ₦12.581 billion. Volume in the Banking subsector was largely driven by activities in the shares of Ecobank Transnational Incorporated Plc, Unity Bank Plc and UBA Plc. Trading in the shares of the three banks accounted for 844.849 million shares, representing 53.37%, 37.71% and 30.03% of the turnover recorded by the subsector, sector and total turnover for the week, respectively.

Also traded during the week were 234 units of New Gold Exchange Traded Funds (ETFs) valued at ₦595, 491 exchanged hands in 5 deals in contrast to a total of 196 units valued at ₦504,481 transacted in the previous week in 4 deals.

In addition, 610 units of FGN bonds valued at ₦76,432 were traded during the week in 14 deals. However, there were no transactions in the State/Local Government Bonds and Corporate Bonds/Debentures sectors.

Index Movement
The NSE All-Share Index appreciated by 828.37 points or 2.62% to close on Friday at 32,411.86 basis points. Also, the market capitalisation of the listed equities appreciated by 2.65% to close at ₦10.37 trillion.

All the NSE sectoral indices appreciated: Bloomberg NSE 30, Bloomberg NSE Consumer Goods, Bloomberg NSE Banking, Bloomberg NSE Insurance, Bloomberg NSE Oil/Gas and NSE Lotus II appreciated by 3.25%, 5.94%, 1.81%, 6.38%, 1.40% and 3.33% respectively.

A review of the equity price movements indicated that 55 equities gained while 27 equities recorded price declines and 115 equities remained constant.

New/Supplementary Listings
Lagos State’s ₦80 billion 14.50% Fixed Rate Bond Series 1 Bond due 2019 was admitted on the Daily Official List on Friday, February 1, 2013.

A total volume of 2.9 billion shares was added to the outstanding shares of Wapic Insurance Plc on Monday, January 28, 2013; bringing the total outstanding shares to 7.97 billion.

The NSE added FLOURMILLS, UNILEVER, ROYALEX and WEMABANK to the Market Making Basket on Thursday, January 31, 2013.