Top StoriesExposed!
N100b road contracts scam rocks Edo
From COLLINS EKE, Benin
AN alleged
monumental fraud running into billions of naira allegedly squandered on the
Benin City road network, by Governor Oserhiemen Osunbor has sparked off a
cold war in Edo State....
'Independence Day is time to bless Nigeria...
Let's
celebrate our country’
Being a keynote address by Pastor Chris Oyakhilome, President, Believers Loveworld
Inc. (a.k.a Christ Embassy) at the Grand Launch of the 2008 edition of ReachOut
Nigeria...
Presidency
starves INEC of funds
By CHUKS EHIRIM, Abuja
THE Independent
National Electoral Commission (INEC), still gasping for breath, amid unending
attacks from the public, surprisingly, in recent times has been suffering
.....
Nigeria
at 48: No cause for cheers - AC leader
From CHUKS EHIRIM, Abuja
AS Nigerians take stock of the dividends of 48 years of freedom from colonial
rule, while curiously awaiting the mandatory Independence Anniversary...
MIKANO
Generators
By KELECHI DECA
MIKANO Generators
is a subsidiary of Mikano International Limited, a company with 27 years experience
in the areas of Building/Civil Engineering Construction and Steel...
ReachOut Nigeria
campaign reaches climax
By AZUKA MORDI
AT the grand launch of this year's edition of the ReachOut Nigeria with Rhapsody
of Realities campaign, President of Believers Loveworld (also known as) Christ
Embassy, Pastor Chris....
NEWS
• Shake-up imminent
in ANPP
• As Third Mainland bridge
re-opens: Lagosians heave sigh of relief
• Court orders arrest of
PDP chieftain in Kaduna
• Imo deputy governor clashes
with kinsmen
• Principal,
vice escape kidnap attack
• Village
head, four others quizzed
• Group alerts of plot to
rip-off Rivers officials
• Forum cautions Ijaws on
minister for Niger Delta
• National Identity Cards
in a fix
• Group wants WAEC probed
• Nobody can stop my judicial
commission of inquiry –Jang
• Fayose commends Oni's
unity govt plan
• Shun ostentatious living,
Moslems told
• NEMA advises stake-holders
on disaster management
• I'm
okay with JTF operations –New Defence Chief
• Monarchs endorse Akpabio
for second term
• Anambra PDP Crisis:
Ubah hails Gana's committee
• Rivers to get tourism
dev. commission
• COREN goes tough on erring
members
• 22 German students take
courses in Hausa
• Varsity don raises alarm
over materialism
• Speak your mother-tongue,
Ohakim tells Nigerians
Market Review
Monday 22
Market capitalisation down to N9t
MARKET activities resumed on a bearish note on the Nigerian Stock Exchange
on Monday as all the major market indicators closed lowers. The market capitalisation
of the 319 listed equities, which had dropped by N18billion, from N10.037
to N10.019 as at the close of trading activities on Friday, declined further
by N26billion or 0.26 per cent to close at N9.993ttrillion.
The All-Share Index also fell by 122.95 basis points or 0.26 per cent to 47,194.99,
from 47,317.94 recorded last Friday.
Meanwhile, the market continued to record more price depreciation than appreciation,
as 54 stocks declined in price, while only 18 stocks recorded price increases.
In all, a total of 666.800 million shares, valued at N3.624million were exchanged
on Monday, in 8,617 transactions, compared with 581.489 million shares, worth
N6.001billion traded last Friday in 12,178 deals.
Tuesday 23
Investors staked N2.716billion on 312.681 million equities in 8,006 transactions
at trading's close on Tuesday, compared with 666.800 million shares, valued
at N3.624million exchanged by investors on Monday, in 8617 transactions.
Ashaka Cement Plc again led on the gainers' chart like the previous day, with
an addition of N1.44 to its previous price to close at N30.24 per share. Red
Star Express Plc and Unity Bank Plc chalked up 25 kobo and 19 kobo to close
at N5.80 and N4.60 respectively.
On the other hand, Flour Mills Nigeria Plc topped the losers' table, shedding
65 kobo to close at N64.97 per share. Nigerian Breweries Plc and Zenith Bank
Plc also lost 47 kobo and 30 kobo respectively to close at N46.58 and N37.10
per share.
Wednesday 24
Market in downward trend
The market capitalisation of the 309 listed equities continued its downward
slide as it depreciated by N53bn or 0.5 per cent, down from N9.958trillion
at Tuesday's close to N9.905. The All-Share-Index declined by 0.5 per cent,
down from 46,974.54 on Tuesday to 46,723.42. Investors staked N2.786billion
on 314.599 million shares in 6,587 transactions, as against 312.681 million
shares, valued at N2.716billion traded on Tuesday in 8,000 deals.
THE banking sub-sector continued its dominance on the activity chart at the
close of trading on Wednesday, trading 193.993 million shares, valued at N.1.850billion
in 3,670 deals. This represented a volume increase by 80 per cent over 107.380
million shares, worth N1.849billion traded at Tuesday's close in 4,121 deals.
Turnover in the sub-sector accounted for 62 per cent of total volume traded.
Activity in the sub-sector was largely boosted by turnover in the shares of
Spring Bank Plc, which accounted for 55 per cent of the sub-sector's turnover
and 33 per cent of total volume traded.
It traded 106.405 million shares, valued at N594.803m in 150 deals. The insurance
sub-sector followed on the activity chart, accounting for 17 per cent of total
turnover. It traded 52.828 million shares, valued at N90.088m in 719 transactions.
This represented a decrease of 62 per cent from 141.206 million shares, worth
N242.966m traded on Tuesday in 1,301 deals. Turnover in the sub-sector was
boosted by activity in the shares of Investment and Allied Assurance Plc,
which accounted for 34 per cent of the sub-sector's turnover. It traded 17.975
million shares valued at N13.302million in 114 transactions.
Thursday 25
Banks drive market
Investors continued their preference for banking stocks as it led on the activity
chart. The sub-sector traded 178.261 million shares valued at Nl.446bn in
3,221 deals, representing 55 per cent of the sub-sector's turnover. This was
a decrease of eight per cent from the 193.993 million shares valued at N1.850billion
traded at Wednesday's close in 3,670 transactions. Turnover in the sub-sector
was boosted by activity in the shares of Spring Bank Plc, which accounted
for 60 per cent of the sub-sector's turnover and 33 per cent of total volume
traded.
The insurance sub-sector followed on the activity chart accounting for 32
per cent of total turnover. It traded 104.933 million shares valued at N241.640m
in 893 deals. Volume in the sub-sector was largely boosted by activity in
the shares of Cornerstone Insurance Plc and Regency Alliance Insurance Plc.
Both accounted for 65 per cent of the sub-sector's turnover.
Meanwhile, the market capitalisation of the 309 listed equities declined further
by N55bn or 0.6 per cent, from N9.905trillion at Wednesday's close to N9.850trillion.
The All-Share-Index decreased by 0.6 per cent, down from 46,723.42 to 46,466.80.
Investors staked N2.154billion on 323.370 million shares in 6,627 transactions,
as against 314.599 million shares valued at N2.786billion traded on Wednesday
in 6,587 deals.
FRIDAY 26
Investors stakes N2.4bMarket loses 17b
Investors staked a total of N2.4billion on 365million shares in 7,603deals.
The market capitalisation the listed equities suffered further setback when
it dropped to N9.34trillion at the close of transaction of Friday. It dropped
from N9.85trillion realized on Thursday in what could be seen as a further
sign of the bearish trend that has gripped the market. The All-Share Index
also lost some points dropping from 46,466.80 on Thursday to 46,216.13 points.
