The downward trend of equity prices on the floor of The Nigerian Stock Exchange (NSE) persisted today. This has continuously impacted negatively on the major market indices as reflected at the close of trading activities for the day.

The Nigerian Stock Exchange (NSE) all share index which is the major barometer for the performance of the market, closed at 22,365.02 down from the opening value of 22,664.29.

Also the Nigerian Stock Exchange (NSE) capitalization which measures the value of equities closed at N5,126.78 billion indicating a fall of N68.60 billion today.

Market patronage in terms of Volume of shares exchanged by investors rose by 183.19 million ordinary shares or 59.90 percent when compared with the position of yesterday. In essence, an aggregate of 489.04 million ordinary shares were traded in 8,811 deals today as against a volume of 305.85 million traded in 6,697 deals in the previous transaction.

Turnover by value was on the upswing like volume as it closed at N3.69 billion; N1.40 billion or 61.14 percent rise as against N2.29 billion worth of stocks traded in the previous trading day.

Table 1

Market Statistics

	Today 22/07/2009	Previous day 21/07/2009	% Change
NSE All-Share Index	22,365.02	22,664.29	-1.32
Total Deals	8,811	6,697	31.57
Volume Traded (M)	489.04	305.85	59.90
Value Traded (N’B)	3.69	2.29	61.14
Turn Over Ratio %	0.10	0.06	66.67% Change Point
Mkt. Capt. (N’B)	5,126.78	5,195.38	-1.32

Benue Cement Company (BCC) Plc lead the top gainers list again as the stock added N1.63 or 4.98 percent to its share price to close the market at N34.35 from its opening price of N32.72. Guaranty Trust Bank Plc came second on the list, having gained N0.66 or 4.96 percent as it opened and closed the day at N13.31 and N13.97 respectively.

Table 2

Stock	Opening Price (N:K)	Closing Price (N:K)	Absolute Change (N:K)	% rise
BCC	32.72	34.35	+1.63	4.98
GUARANTY	13.31	13.97	+0.66	4.96
WAPCO	25.36	26.00	+0.64	2.52
UNILEVER	11.39	11.94	+0.55	4.83
GUINNESS	130.50	131.05	+0.55	0.42

Figure 1

Top 5 Price Gainers

2

On the losers’ chart, Nestle Plc lead the table for the day as the company share price declined by N6.50 or 3.79 percent to close the market at N165.00 per share, from it opening price of N171.50. Followed on the Chart was Mobil Plc that lost N5.85 or 5.00 percent to close the day at N111.15 per share.

Table 3

Stock	Opening Price (N:K)	Closing Price (N:K)	Absolute Change (N:K)	% drop
NESTLE	171.50	165.00	-6.50	-3.79
MOBIL	117.00	111.15	-5.85	-5.00
CONOIL	52.26	49.65	-2.61	-4.99
NB	52.63	50.60	-2.03	-3.86
JBERGER	29.04	27.59	-1.45	-4.99

Figure 2

Top 5 Price Losers

Trading Activities (Sectors/Individuals)

The Banking sector emerges as the top traded Sector today in volume among the 30 listed sectors in the Nigeria Stock Exchange Floor. The sector recorded 286.60 million ordinary shares traded to control 58.60 percent of the aggregate volume of shares traded. The Insurance sector, with 111.25 million ordinary shares, traded trailed behind the Insurance sector which represents 22.75 percent of the total volume traded.

Figure 3

Zenith Bank Plc emerges first as the most patronized stock for the day. Investors traded 50.79 million ordinary shares to controlled 28.33 percent of the aggregate volume traded in the Banking sector and 14.94 percent of the entire market. United Bank for Africa Plc (26.78 million ordinary shares) emerged second position on the list.

Table 4

5 Most Traded Stocks by Volume

Stock	Price (N: K)	Volume (M)
ZENITHBANK	11.00	50.79
FIRSTBANK	13.60	40.87
IAINSURE	0.50	39.60
DIAMONDBNK	6.01	34.22
JBERGER	27.59	27.31

Figure 4

5 Most traded Stocks by Volume

The Banking sector was the most active in value traded as the stocks worth N1,474.42 million for a 64.36 percent of the aggregate traded value for the day. The Breweries sector (N250.63 million) followed, representing 17.57 percent of the overall value traded.

Figure5

Analysis on individual company basis showed that Julius Berger Plc led the highest trading by value at N753.46 million today. The figure controlled 98.28 percent of total traded value in the Construction sector and 20.43 percent of the overall value traded for the whole market. Zenith Bank Plc (N559.39 million) was the second highest.

Table 5

5 Most Traded Stocks by Value

Stock	Price (N:K)	Value (N’M)
JBERGER	27.59	753.46
ZENITHBANK	11.00	559.39
FIRSTBANK	13.60	558.42
UBA	10.50	247.82
DIAMONDBNK	6.01	205.65

Figure 6

5 Most Traded Stocks by Value

Market Capitalization:

Nigeria Breweries Plc is the highest capitalized stock at N382.67 billion today. This was followed by First Bank of Nigeria Plc with N336.26 billion. Zenith Bank Plc N276.29 billion, Guaranty Plc with N263.84 billion and UBA Bank Plc N226.27 billion to maintained the third, fourth and fifth positions respectively.

Table 6

5 Most Capitalized Stocks

Stock	Mkt. Capt. (N’B)	% of Top 5	% of Total
NB	382.67	25.76	7.46
FIRSTBANK	336.26	22.64	6.56
ZENITHBANK	276.29	18.60	5.39
GUARANTY	263.84	17.76	5.15
UBA	226.27	15.23	4.41
Total	1,485.33	100	28.97
Others	3,641.45		71.03
Grand Total	5,126.78		100.00

Figure 7

5 Most Capitalized Stocks

Monetary Policy Rate: 6.00 %

Business News

No news

Term of the day:

ABNORMAL RETURN:

A term used to describe the returns generated by a given security or portfolio over a period of time that is different from the expected rate of return

An abnormal return can be either a good or bad thing, as it is merely a summary of how the actual returns differ from the predicted return. For example, earning 30% in a mutual fund that is expected to average 10% per year would create a positive abnormal return of 20%. If, on the other hand, the actual return was 5%, this would generate a negative abnormal return of 5%.