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NEWS

• N150m scam: EFCC may declare Bayelsa Finance Commissioner wanted
• Imo Chief of staff in rice scandal
• Middle-aged widow killed for rituals
• NCC goes tough on vandalisation 
• Army Officer, 10 others die in road crash
• Ebonyi lawmakers move against illegal mining
• Stakeholders back Amaechi's security initiatives
• Teachers cry out over salary diversion
• SEC undergoes overhauling for efficiency 
• My committee has no mandate to conduct party election –Jerry Gana
• Robbers terrorise Abakaliki residents
• Cattle market gets management committee 
• Kogi introduces free medical care for women
• Robbers raid Ilisan Cyber Cafe
• Kidnap saga spreads to Okene 
• Child Rights law due in Cross River
• Flood ravages N500m properties on Varsity campus
• Abia govt implored to beef up security
• NEMA targets modalities for disaster management
• Improve on your performances, Saraki charges teachers
• Varsity VC abduction latest: RUST students, lecturers boycott classes
• Sylva tackles food scarcity
• Nyako moves to check food scarcity
• Fed lawmaker initiates N140m projects for constituency
• Ohakim charges appointees to leave inprints
• Govt to partner with investors on movie industry
• Akwa Ibom lawmakers reject stooges claims
• As the ceiling caves on Mbeki
• Congolese army, rebels in joint mining

Relating Stories
• Shell, Chevron lament militants’ attacks
• FG should declare state of emergency in Real, Agric sectors now —NUFBTE
• Zain eyes 110m subscribers
• Efficient capital market can salvage ailing infrastructures — Udoma
• HARAMBE advocates youth development in agriculture
• John Holt on profitability path
• Market in red: Finance minister pleads with investors
• Market Review

Market in red: Finance minister pleads with investors

THE bearish trend that has been plaguing the Nigerian Stock Exchange, NSE, continued in the week under review as share prices slump due to poor patronage. The All Share Index dropped by 2.9per cent to close on Friday at 47,317.94. The market capitalisation of the 201 first-Tier equities closed lower at N10.02 trillion.

Twenty (20) stocks appreciated in the price during the week, lower than the twenty-two (22) in the proceeding week. Seventy (70) stocks depreciated in price during the week, same as in the proceeding week.

In a bid to stimulate the market by restoring investors' confidence the Federal Ministry of Finace has through the Central Bank of Nigeria injected N150billion into the finace market with the minister, Shamsudeen Usman pleading with investors to partronise the market saying stocks are better bought when the prices are cheaper.

The market recorded a turnover of 3.1 billion shares worth N39.3 billion in 49,497 deals, in contrast to a total 2.65 billion shares valued at N50.3 billion exchanged the previous week in 44,357 deals.

The Banking sub sector was the most active during the week (measured turnover volume), with 2.32 billion shares worth N34.53 billion exchanged by investors in 26,906 deals, volume in the Banking sub sector was largely driven by activity in the shares of spring Bank plc, Afribank Nigeria Plc, Ecobank Nigeria Plc and Oceanic Bank International Plc. Trading in the shares of the four banks accounted for 1.85 billion shares, representing 79.8per cent of the sub sector's turnover.

The insurance sub sector, boosted by activity in the shares of investment and Allied Assurance Plc, followed on the week's activity chart with a turn over of 369.9 million shares valued at N755.55 million in 5.345 deals.
The Banking sub sector led on the activity chart and was followed by the insurance sub sector in the previous week.