Nigerian Bank Nigeria Finbank Plc – NSE Bond Market Records N142-8b Transactions In One Week

Source: Guardian, March, 2011

TRANSACTIONS in the Over-The-Counter (OTC) bond market of the Nigerian Stock Exchange (NSE) last week recorded a turnover of 159.82 million units worth N142.8 billion in 1,349 deals, compared to N144.4 billion staked by investors in the previous week.

At the end of transactions on Friday, the most active bond when measured by turnover volume was the 10.00 per cent FGN July 2030 (7th FGN Bond 2030 Series 3) with a traded volume of 44.2 million units valued at N35.1 billion in 371 deals.

This was followed by the 5.50 per cent FGN February 2013 (7th FGN Bond 2013 Series 1) with a traded volume of 39.43 million units valued at N37 billion in 390 deals. Eleven of the available 32 FGN bonds were traded last week compared with 14 in preceding week.

In the equities sector, a turnover of 1.911 billion shares worth N10.2 billion in 35,515 deals was recorded, in contrast to a total of 1.373 billion shares valued at N9.63 billion exchanged in the previous week in 29,955 deals.

The banking sub-sector was the most active during the week when measured by turnover volume with 879.97 million shares worth N5.56 billion exchanged by investors in 15,866 deals.

Volume in the banking sub-sector was lifted by activity in the shares of Zenith Bank Plc, Oceanic Bank International Plc, Finbank Plc and Wema Bank Plc.

Trading in the shares of the four banks accounted for 294.49 million shares, representing 33.46 per cent and 15.41 per cent of the sub-sector’s turnover and total volume traded during the week, respectively.

The Other Financial Institutions sub-sector, boosted by activity in the shares of Crusader Nigeria Plc and Royal Exchange Plc, followed on the week’s activity chart with a turnover of 483.62 million shares valued at N241.86 million in 64 deals.

On the price movement, the NSE All-Share Index appreciated by 227.40 points or 0.9 per cent to close on Friday at 25,585.24 while the market capitalisation of the 194 First-Tier equities increased to N8.17 trillion.

The NSE-30 Index appreciated by 10.81 points or 0.99 per cent to close at 1,117.42. In the previous week, ASI and NSE-30 Index depreciated by 3.2 per cent and 3.7 per cent, respectively.

Three of the four sectorial indices appreciated last week compared with all four that depreciated during the preceding week.

The NSE Food/Beverage Index appreciated by 1.64 points or 0.21 per cent to close at 842.99, the NSE Banking Index appreciated by 10.06 points or 2.44 per cent to close at 423.14. The NSE Insurance Index appreciated by 2.21 points or 1.25 per cent to close at 179.77.

On the other hand, the NSE Oil/Gas Index depreciated by 5.75 points or 1.64 per cent to close at 340.92.
Also, last week, 40 stocks appreciated in price, higher than the 14 of the preceding week.

Ashaka Cement Plc led on the gainers’ table with a gain of N3.40 or 13.28 per cent to close at N29.00 per share while Dangote Flour Mills Plc followed with a gain of N2.39 or (15.31 per cent) to close at N18.00 per share.
Forty-seven stocks depreciated in price during the week, lower than the 75 of the preceding week.

Julius Berger Nigeria Plc led on the price losers’ table, dropping by N2.80 or (5.46 per cent) to close at N48.50 per share while Oando Plc followed with a loss of N1.98 or (3.00per cent) to close at N63.97 per share.

Meanwhile, the Council of the Nigerian Stock Exchange at its meeting held on March 1, 2011 approved the delisting of 11 quoted companies from the Daily Official List due to their inactivity and having failed to meet up with the post listing requirements over time.

Four of the companies delisted were listed in the second-tier securities market (SSM). The companies include: Nigercem Plc, Daily Times of Nigeria Plc, Albarka Air Plc, Foremost Dairies Plc, Wiggins Teape Nigeria Plc, Okitipupa Oil Palm Plc, First Capital Investment and Trust Plc.

Others include Flexible Packaging Plc, Newpak Plc, Krabo Nigeria Plc and Tropical Petroleum Plc. On the delisting date, March, 8, 2011, the 11 companies had combined issued shares of 3,497,680,678 shares valued at N3,245,209,642.50.
Consequently, the number of listed companies dropped to 206, including 12 SSM equities.

Nigerian Bank Nigeria Finbank Plc, Oceanic Bank International Plc, Wema Bank Plc, Zenith Bank Plc