STOCK MARKET REPORT FOR THE WEEK ENDING FRIDAY, 18TH MAY 2012
A turnover of 1.85 billion shares worth N13.865 billion in 20,442 deals was recorded this week, in contrast to a total of 2.243 billion shares valued at N19.361 billion exchanged last week in 23,062 deals. The Financial Services sector accounted for 1.114 billion shares valued at N8.9 billion traded in 11,489 deals. The Consumer Goods sector followed with for 195.445 million shares valued at N3.2 billion traded in 4,683 deals. Last week, the Financial Services sector led on the activity chart and was followed by the Consumer Goods sector.
The Banking subsector of the Financial Services sector was the most active during the week (measured by turnover volume); with 1.03 billion shares worth N8.814 billion exchanged by investors in 10,910 deals. Volume in the Banking subsector was largely driven by activity in the shares of UBA Plc, Guaranty Trust Bank Plc and First Bank of Nigeria Plc. Trading in the shares of the three banks accounted for 623.8 million shares, representing 60.8%, 56% and 33.8% of the turnover recorded by the subsector, sector and total turnover for the week, respectively.
The Food Products of the Consumer Goods sector, boosted by activity in the shares of Dangote Sugar Refinery Plc and National Salt Company of Nigeria Plc, followed on the week’s activity chart with a subsector turnover of 163.7million shares valued at N807.9 million traded in 2,244 deals.
Last week, the Banking subsector of the Financial Services sector led on the activity chart and was followed by the Food Products of the Consumer Goods sector.
Transaction during the week included a total of 700 units of NewGold Exchange Traded Products valued at N1.7 million traded in 7 deals. There were no transactions executed through the stock market in the Federal government Development Stocks, State Government Bonds and Industrial Loans/Preference Stocks sectors.
PRICE MOVEMENT
The NSE All-Share Index depreciated by 241.33 points or 1.1% to close on Friday at 22,381.11 while the market capitalization of the 187 First -Tier equities declined to N7.14 trillion. Also, the NSE-30 Index depreciated by 15.02 points or 1.5% to close at 1,016.30. Last week, the NSE-ASI and NSE-30 Index declined by 0.2% and 1.0%, respectively.
All the four sectorial indices depreciated during the week, compared with the one that depreciated during the preceding week. The NSE Consumer Goods Index depreciated by 29.67 points or 1.61% to close at 1,808.67. The NSE Banking Index depreciated by 9.52 points or 2.9% to close at 322.50. The NSE Insurance Index depreciated by 1.92 points or 1.5% to close at 126.99 and the NSE Oil/Gas Index depreciated by 1.57 points or 0.8% to close at 196.65. Please note that the points and percentage changes in the NSE Indices are calculated by computing the daily changes in the index values.
APPRECIATED STOCKS
Twenty-three (23) equities appreciated in price during the week, lower than the twenty-six (26) of the preceding week. UAC of Nigeria Plc led on the gainers’ table with a gain of N1.99 or 5.9% to close at N36.00 per share while Unilever Nigeria Plc followed with a gain of N1.51 or 5.2% to close at N30.51 per share. Other price gainers’ in the Top 10 category include:
- PRESCO PLC 1.36
- CADBURY NIGERIA PLC. 1.14
- CHEMICAL & ALLIED PRODUCTS PLC 1.05
- GLAXO SMITHKLINE CONSUMER NIG. PLC. 1.00
- JULIUS BERGER NIG. PLC. 0.96
- DANGOTE FLOUR MILLS PLC 0.92
- FORTE OIL PLC. 0.54
- UACN PROPERTY DEVELOPMENT CO. PLC 0.49
DEPRECIATED STOCKS
Thirty-five (35) stocks depreciated in price, lower than the thirty-one (31) of the preceding week. Nestle Nigeria Plc led on the price losers’ table, dropping by N14.95 or (3.4%) to close at N425.00 per share while Dangote Cement Plc followed with a loss of N9.39 or (7.7%) to close at N112.11 per share. Other price losers in the Top 10 category include:
- GUINNESS NIG PLC (5.00)
- THE OKOMU OIL PALM PLC. (3.90)
- NIGERIAN BREW. PLC. (3.00)
- NIGERIAN AVIATION HANDLING COMPANY PLC (2.26)
- FLOUR MILLS OF NIG. PLC. (1.89)
- UNION BANK OF NIG.PLC. (0.90)
- FIRST BANK OF NIG. PLC (0.79)
- FIRST CITY MONUMENT BANK PLC. (0.73)
…Supplementary Listings
A total of 1,549,137,037 shares were added to the shares outstanding in favour of Dangote Cement Plc following the bonus of 1 for 10. The Company now has 17,040,507,405 shares
A total of 246,093,750 shares were added to the shares outstanding in favour of Nigerian Aviation Handling Co. Plc following the bonus of 1 for 5. The Company now has 1,476,562,500 shares
A total of 196,059,480 shares were added to the shares outstanding in favour of RT Briscoe (Nig) Plc following the bonus of 1 for 5. The Company now has 1,476,562,500 shares
OTHER COMPANY NEWS
OMATEK VENTURES PLC: Pre-AGM Emergency Board Meeting - The Company notified The Exchange that the Pre-AGM Emergency Board of Directors’ Meeting will take place on Monday, 14th May, 2012 at 11.00 a.m.; at the VIP Rooms 1 & 2, Golden Gate Restaurant, situate at 25b, Glover Road, Ikoyi, Lagos. The Agenda for the meeting is stated below:
1. Consent to shorter notice of the Board of Directors’ Meeting.
2. Presentation of the Revised Audited Accounts for 2011.
3. Presentation of the Combined Annual Report and Accounts for years ended 31st December, 2010 and 2011.
4. Retirement of Directors by rotation and re-election.
5. Appointment of the Auditors
6. Appointment of the Company Secretary.
7. Appointment of Chief Financial Controller, Chief Sales & Supply Officer and Chief Technical Officer, Group Human Resources/SA and Legal Manager.
8. Any Other Business.
Furthermore, the company will also have a pre-AGM shareholders briefing with major shareholders at 2.00pm.
INTERNATIONAL ENERGY INSURANCE PLC: Change of Registrar - The Company notified The Exchange that it has changed its Registrars to PAC Capital and Trust Limited with effect from March 05, 2012. Prior to this appointment, PHB Capital & Trust Limited (Registrars) has acted in that capacity.
GUARANTY TRUST BANK PLC: Divestment - The Bank notified The Exchange that following the repeal of universal banking by the CBN, which prohibits Banks from participating in non-banking business, Guaranty Trust Bank Plc, relinquished its 67.68% equity investment in Assurance Plc. and was purchased by Assurance Africa Holding (AAH).
In accordance with the provision of Section 131 of ISA and Rule 235 of SEC Rules, AAH is obliged to make a Tender offer to the minority shareholders of Assurance Plc. on the same financial terms and conditions agreed with GTBank Plc. This is aimed at providing a fair and orderly exit to those minority shareholders who may wish to divest their shareholding interest in Assurance Plc. along with GTBank Plc.
The Tender Offer opened on May 2, 2012 and will be closing on May 30, 2012. Shareholders whose names did not appear in the Register of members as at April 18, 2012 shall not be qualified for the offer. Stockbrokers may wish to advice their clients accordingly.
REPORT ON THE OTC MARKET FOR FGN BONDS
A turnover of 131.544 million units worth N121,239.63 million in 935 deals was recorded this week, in contrast to a total of 139.62 million units valued at N127,534.5 million exchanged in 804 deals during the week ended May 10, 2012. The most active bond (measured by turnover volume) was the 10.5% FGN March 2014 (8th FGN Bond 2014 Series 1) with a traded volume of 33.112 million units valued at N31,392.5 million in 272 deals This was followed by the 16.39% FGN Jan 2022 (9th FGN Bond 2022 Series 1) with a traded volume of 33.05 million units valued at N36,303.02 million in 186 deals. Ten (10) of the available twenty-seven (27) FGN Bonds were traded during the week, compared with nine (9) that traded during the preceding week.