Nigeria's Investors lose N343bn on NSE; Index Attains New 52-week low

No Comments » November 30th, 2008 posted by // Categories: Nigeriawatch



Date NSE Index Capitalisation
11/28/2008 33025.75 N7.306tn


3/5/2008 66371.2 12623973100483.3



Index has dipped to less than half its value of maximum of March 5, 2008. Capitalization has dipped to 57.9% of its maximum value.









Date NSE Index Capitalisation
11/28/2008 33025.75 N7.306tn
11/27/2008 33513.72 7396106448584.92
11/26/2008 33458.2 7423652583652.1
11/25/2008 33834.94 7466995450555.87
11/24/2008 34012.2 7559221811309.92
11/21/2008 34660.65 7649221311309.15
11/20/2008 35438.56 7820903060415.94
11/19/2008 36706.98 8100160363410.96
11/18/2008 37865.16 8356420501060.57
11/17/2008 38018.44 8390247414066.38
11/14/2008 37876.06 8309131167836.71
11/13/2008 37333.64 8190137116255.11
11/12/2008 36568.14 8015621621564.13
11/11/2008 35758.02 7840095286052.57
11/10/2008 34973.05 7672276332493.06
11/7/2008 34351.81 7535992625774.89
11/6/2008 33872.69 7430884164055.85
11/5/2008 33754.11 7404871201443.89
11/4/2008 34327.64 753015689735.79
11/3/2008 36325.86 7969051638349.47




3/31/2008 63016.56 12125895279350.9
3/28/2008 63147.04 12151003669723.9
3/27/2008 63098.46 12141656049082.2
3/26/2008 63098.46 12141656049082.2
3/25/2008 64482.68 12408013024574.8
3/20/2008 64635.22 12324642204233.9
3/18/2008 65005.48 12395243747830.3
3/17/2008 64635.22 12324642204233.9
3/14/2008 65529 12495067425429.9
3/13/2008 65616.08 12496279707061.1
3/12/2008 65616.08 12496279707061.1
3/11/2008 66120.19 12592284789270.7
3/10/2008 66121.93 12592616305745.4
3/7/2008 66120.19 12592284789270.7
3/6/2008 66120.19 12592284789270.7
3/5/2008 66371.2 12623973100483.3
3/4/2008 65652.38 12503192569386.8
3/3/2008 65652.38 12503192569386.8
2/29/2008 65075.02 1388233583614.78
2/28/2008 64819.49 12339588518109.7
2/27/2008 64819.49 12339588518109.7
2/26/2008 64350.71 12250347333207.5
2/25/2008 64510.26 12274778421011.2
2/22/2008 64129.69 12202174150779.5
2/21/2008 63936.64 12150741268952.8
2/20/2008 63863.87 12136911661261.3
2/19/2008 63753.66 12115966462685.1
2/18/2008 63584.46 12083812546.57
2/15/2008 62961.79 11624113725475.7
2/14/2008 62846.68 11602862287461.9
2/13/2008 62846.68 11602862287461.9
2/12/2008 62847.66 11603041706732
2/11/2008 62516.07 11492376022498.7
2/8/2008 62516.07 11492376022498.7
2/7/2008 62245.79 11442690038894.7
2/6/2008 61618.39 11327355114729.6
2/5/2008 60289.7 11083101723490.3
2/4/2008 59382.44 10916318871974.6
2/1/2008 58570.55 10692738058529.3






Index Attains New Low, As Drop In Blue-chip Stocks Weakens Indicators
By Kingsley Ighomwenghian, Senior Correspondent


After a week of daily successive loses, the basic measurement indicators of the Nigerian Stock Exchange (NSE) caved in under pressure last week, just as the All-Share-Index hit a new 52-week low, the second time in the month of November.

The index lost 1,634.49 basis points or 4.71 per cent at 33,025.75 points, bringing year to date slide in the nation’s equity market to 43.05 per cent, while equities’ capitalisation lost all of N345.358 billion to close at N7.305 trillion.

The slide in capitalisation was despite the admission onto the NSE Daily Official List, 4.893 billion ordinary shares of Mass Telecommunications Innovation Nigeria (MTI) by introduction at N4.00.

The euphoria of the new listing on the information, communications and telecommunication sub-sector, which brings the number of quoted firms to 213, was however dampened by the 81 stocks that suffered varying degree of loses.

The petroleum products marketing sub-sector held on to the laggards’ side of the price movement table, with Oando taking over the price position from embattled competitor- Chevron Oil Nigeria, which seemed to be on some form of recess.

Oando shed N17.96 to attain yet another 52-week low of N78.99, losing a little less than N200 from the all-time high of N282.77; ahead of Total Nigeria’s N15.87 slide, an amount, which includes the adjustment of 380 kobo interim dividend recommended by the board, to close at N225.69. Flour Mills of Nigeria followed, losing 420 kobo, in what may seem market displeasure with its un-audited half year result released during the week showing that turnover growth was significantly more than that of profit, indicating the need for management to pay more attention to drain pipes in its finances.

The result for the period ended September 30, 2008 showed sales income growing by about N30.914 billion or 61.88 per cent from N49.951 billion in the corresponding period of last year, to N80.865 billion. PBT was however weak at N3.551 billion, growing by N522 million or 17.23 per cent from N3.029 billion, at a time when net profit improved by about N366 million or 17.2.6 per cent from N2.12 billion to N2.486 billion.

The net profit translates, therefore, to per share earnings of about N1.45, as against the previous N1.24 per share.

The decliners also included conglomerate- PZ Cussons Nigeria with a total loss of about 385 kobo; building materials giant- Benue Cement Company dropped 370 kobo; Zenith Bank, 327 kobo; Ashaka Cement, another building materials making giant dropped 274 kobo; Afibank Nigeria, 271 kobo; and Northern Nigerian Flour Mills, which completed the top-10 laggards’ side with a 259 kobo slide.

Construction giant- Costain (WA) made it once more to the top 10 gainers’ side, albeit weakly, but this time it occupied the price slot after chalking 168 kobo; just as building materials packager and marketer- Lafarge Cement WAPCO grabbed 86 kobo. Finbank showed up, after a long absence, grabbing 83 kobo; just like drugs and healthcare products maker- Glaxosmithkline Consumer; United Bank for Africa also closed 76 kobo healthier, in what may also be an indication that the market appreciated its audited result for the year ended September 30, 2008, following which the directors are offering a twin benefit.

The directors’ have recommended the distribution of one new bonus share for every four held, in addition to a final dividend of 75 kobo per share, for shareholders on the register of members between December 16 and 18, while dividend warrants will be distributed on January 8, 2009.

The board of the bank had on May 16, released the audited half year ended March 31, 2008, the board had also recommended a bonus of one new share for every two held and interim dividend of 25 kobo for shareholders whose names appear in the register between June 2 and 4, 2008.

The result showed that gross earnings income rose by about N60.124 billion or 54.92 per cent to N169.581 billion, from previous year’s N109.457 billion.

Profit before tax stood at N56.815 billion, representing a rise of about N25.663 billion or 82.37 per cent, when compared with the preceding year’s N31.152 billion.

After taking into account the negative extra-ordinary item of about N8.786 billion, up from N5.788 billion, PBT and after extra-ordinary item was N48.029 billion, growing by about N22.665 billion or 89.35 per cent to the corresponding level of N25.364 billion.

Profit attributable to shareholders for the period also showed a growth of about N19.384 billion or 90.40 per cent over the N21.441 billion to N40.825 billion.

The week’s top gainers’ side also had Oceanic Bank International, which chalked 6 kobo; Stanbic IBTC Bank grabbed 55 kobo; May & Baker, 45 kobo; Guinness Nigeria, which last week held its annual general meeting in Benin City, Edo State at the weekend closed seven kobo better; leaving Guaranty Trust Bank at the bottom of the table.

The week’s transaction volume of 1.772 billion shares valued at N13.562 billion in 44,762 deals, was about 0.64 billion units or 26.55 per cent low than previous week’s 2.41 billion shares exchanged for about N21 billion in 51,198 deals.

The banking sub-sector followed with 1.122 billion units worth N10.465 billion in 27,393 deals, boosted by the 192.09 million shares of Spring Bank traded for N1.07 billion in 463 deals.

In 945 deals, stockbrokers crossed 149.378 million shares of First City Monument Bank worth N856.94 million; Diamond Bank was next with 127.44 million shares worth N1.014 billion in 640 deals; investors staked N874.0 million in exchanged for 112.84 million units of Access Bank in 1,647 deals; while 91.55 million units of UBA changed hands for N1.515 billion.

In the insurance sub-sector where 346.98 million units were traded for N545.83 million units, Investment & Allied Assurance was the most sought after with 133.36 million worth N66.68 million in 321 deals.



Investors lose N343bn on NSE


Written by Michael Eboh & Providence Obuh   
Monday, 01 December 2008


The bearish trend in the capital market continued last week, as investors lost N343.36 billion on the Nigerian Stock Exchange (NSE) due to decline in the prices of quoted securities

Particularly, investors’ woes were heightened by massive losses on the share prices of majority of the listed equities, which deflated the market capitalisation by 4.49 per cent. The capitalisation which opened the week at N7.645 trillion dropped by N343.36 billion to close at N7.305 trillion.

Another market indicator, the All-Share Index, also dropped by 4.72 per cent to close at 33,025.75 points from 34,660.65 points at which it opened the week.

Oando Plc recorded the highest share price loss, in the week under review, dropping by N17.96 to close at N78.99 per share, Total Nigeria Plc followed with a loss of N15.87 to close at N225.69 per share and Flour Mills Nigeria Plc dipped by N4.20 to close at N42.75 per share.

Other share price losers include: Nigerian Bottling Company Plc, N3.88; PZ Cussons Nigeria Plc, N3.85; Benue Cement Company Plc, N3.70; Zenith Bank Plc, N3.27; Ashaka Cement Plc, N2.74; Afribank Nigeria Plc, N2.71; Northern Nigeria Flour Mills Plc, N2.59 among others.

On the contrary, Costain (West Africa) Plc recorded the highest share price gain, rising by N1.68 to close at N15.68 per share, Lafarge Cement WAPCO Plc followed with a gain of N0.86 to close at N26.00 per share and First Inland Bank Plc recorded N0.83 to close at N5.96 per share.

Other share price gainers include: Glaxo SmithKline Consumer Plc, N0.83; United Bank for Africa Plc, N0.76; Oceanic Bank International Plc, N0.66; Stanbic IBTC Bank Plc, N0.55; May & Baker Nigeria Plc, N0.45; Guinness Nigeria Plc, N0.07; GTBank Plc, N0.37, among others.

Equity trading, in the week under review, depreciated by 25.31 per cent as a turnover of 1.8 billion shares valued at N13.56 billion was recorded 44,762 deals in contrast to penultimate week’s turnover of 2.41 billion shares valued at N21 billion in 51,198 deals.

The Banking sub-sector dominated the other sub-sectors, accounting for 62.22 per cent of the market turnover with 1.12 billion shares valued at N10.47 billion in 27,393 deals.

Spring Bank Plc recorded the highest patronage in the sub-sector, trading 192.1 million shares valued at N1.07 billion in 463 deals, followed by First City Monument Bank Plc with the exchange of 149.38 million shares valued at N856.95 million in 945 deals and Diamond Bank Plc recorded 127.45 million shares valued at N1.01 billion in 640 deals.

The Insurance sub-sector followed on the sectorial analysis, accounting for 19.44 per cent of the market turnover with 347 million shares valued at N545.83 million in 3,988 deals.

Investment and Allied Assurance Plc recorded the highest patronage in the sub-sector, trading 133.37 million shares valued at N66.68 million in 321 deals, followed by Equity Assurance Plc with a turnover of 35.34 million shares valued at N178.8 million in 32 deals and Mutual Benefits Assurance Plc recorded 31.34 million shares valued at N55.9 million in 268 deals

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