About The Market Today 10/07/09

The Nigerian Stock Exchange All share index today rose by 442.50 to close at 26,100.64.

Moreover, Market capitalization closed at N5,983.10 billion compared to N5,881.30 in yesterday trading.

Market patronage in terms of Volume of shares exchanged by investors dropped by 77.90 million ordinary shares or 21.66 percent when compared with the position in the last trading day. In essence, an aggregate of 281.67 million ordinary shares were traded in 6,882 deals today as against a volume of 359.57 million traded in 8,528 deals in the previous transaction.

Turnover by value was on the downswing like volume as it closed at N2.04 billion; N0.79 billion or 27.92 percent drop as against N2.83 billion worth of stocks traded in the previous trading day.

Table 1

Market Statistics

	Today 10//07/2009	Previous day 09/07/2009	% Change
NSE All- Share Index	26,100.64	25,658.14	1.72
Total Deals	6,882	8,528	-19.30
Volume Traded (M)	281.67	359.57	-21.66
Value Traded(N’B)	2.04	2.83	-27.92
Turn Over Ratio %	0.05	0.06	-16.67% Change Point
Mkt.Capt. (N’B)	5,983.10	5,881.30	1.73

Guinness Plc lead the top gainers list again as the stock added N6.47 or 5.00 percent to its share price to close the market at N135.97 from its opening price of N129.50. African Petroleum (AP) Plc came second on the list, having gained N3.99 or 4.67 percent as it opened and closed the day at N85.51 and N89.50 respectively.

Table 2

Stock	Opening Price (N:K)	Closing Price (N:K)	Absolute Change (N:K)	% rise
GUINNESS	129.50	135.97	+6.47	5.00
AP	85.51	89.50	+3.99	4.67
BCC	39.50	41.40	+1.90	4.81
NBC	24.79	26.02	+1.23	4.96
FIRSTBANK	20.00	21.00	+1.00	5.00

Figure 1

Top 5 Price Gainers

2

On the losers’ chart, Mobil Plc lead the table for the day as the company share price declined by N6.16 or 4.97 percent to close the market at N117.71 per share, from it opening price of N123.87. Followed on the Chart was Oando Plc that lost N1.62 or 1.90 percent to close the day at N83.50 per share.

Table 3

Stock	Opening Price (N:K)	Closing Price (N:K)	Absolute Change (N:K)	% drop
MOBIL	123.87	117.71	-6.16	-4.97
OANDO	85.12	83.50	-1.62	-1.90
UACN	37.50	36.01	-1.49	-3.97
WAPCO	28.40	27.01	-1.39	-4.89
UNILEVER	14.09	13.49	-0.60	-4.26

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 164.03 million ordinary shares traded to control 58.24 percent of the aggregate volume of shares traded. The Insurance sector, with 57.27 million ordinary shares, traded trailed behind the Insurance sector which represents 20.33 percent of the total volume traded.

Figure 3

Wema Bank Plc emerges first as the most patronized stock for the day. Investors traded 34.12 million ordinary shares to controlled 20.80 percent of the aggregate volume traded in the Banking sector and 12.11 percent of the entire market. United Bank for Africa Plc (18.91 million ordinary shares) emerged second position on the list.

Table 4

5 Most Traded Stocks by Volume

Stock	Price (N: K)	Volume (M)
WEMABANK	3.00	34.12
UBA	13.59	18.91
GUARANTY	13.92	17.46
AIICO	1.06	15.41
CAPOIL	1.49	14.54

Figure 4

5 Most traded Stocks by Volume

The Banking sector was the most active in value traded as the stocks worth N1,503.44 million for a 73.81 percent of the aggregate traded value for the day. The Breweries sector (N115.66 million) followed, representing 5.68 percent of the overall value traded.

Figure5

Analysis on individual company basis showed that First Bank Plc led the highest trading by value at N304.52 million today. The figure controlled 20.25 percent of total traded value in the Banking sector and 14.95 percent of the overall value traded for the whole market. United Bank for Africa Plc (N252.27 million) was the second highest.

Table 5

5 Most Traded Stocks by Value

Stock	Price (N:K)	Value (N’M)
FIRSTBANK	21.00	304.52
UBA	13.59	252.27
GUARANTY	13.92	247.50
ZENITHBANK	13.28	144.61
WEMABANK	3.00	104.76

Figure 6

5 Most Traded Stocks by Value

Market Capitalization:

First Bank of Nigeria Plc is the highest capitalized stock at N519.23 billion today. This was followed by Nigerian Breweries Plc with N378.05 billion. Zenith Bank Plc N333.56 billion, UBA Plc with N292.85 billion and Guaranty Trust Bank Plc N262.85 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
FIRSTBANK	519.23	29.06	8.68
NB	378.05	21.16	6.32
ZENITHBANK	333.56	18.67	5.58
UBA	292.85	16.39	4.89
GUARANTY	262.85	14.71	4.39
Total	1,786.54	100	29.86
Others	4,196.56		70.14
Grand Total	5,983.10		100.00

Figure 7

5 Most Capitalized Stocks

Monetary Policy Rate: 8.00 %

Business News

FIRST BANK OF NIGERIA PLC: Audited result for the year ended 31st March 2009 shows Gross Earnings of N218,287.0 million as against N155,725.0 million in 2008. Profit after tax and exceptional items stood at N12,569.0 million compared with profit after tax of N36,679.0 million in 2008. The Board of Directors is recommending a dividend of N1.35 per share and bonus of 1 for 6. The date of closure of register is July 20, 2009 while payment date is August 24, 2009. The Annual General Meeting is scheduled to hold on Thursday, August 20, 2009.

REGENCY ALLIANCE INSURANCE PLC: Audited result for the year ended 31st December 2008 shows Gross Premium of N1,705.72 million as against N1,210.8 million in 2007. Profit after tax stood at N312.7 million compared with N237.54 million in 2007. The Board of Directors is recommending a dividend of N0.02 per share and bonus of 1 for 10. The date of closure of register is July 22, 2009 while payment date is August 28, 2009. The Annual General Meeting is scheduled to hold at AGIP Recital Hall, Muson Centre, 8/9 Marina, Lagos on Wednesday, July 29, 2009 by 12.00noon.

NIGER INSURANCE PLC: Audited result for the year ended 31st December 2008 shows Gross Premium of N5,324.8 million as against N3,874.22 million in 2007. Profit after tax stood at N206 million compared with N657.02 million in 2007. The Board of Directors is recommending a dividend of N0.05 per share and bonus of 1 for 10. The date of closure of register is July 13, 2009 while payment date is August 10, 2009. The 39th Annual General Meeting is scheduled to hold at Tinapa Business & Leisure Resort, Adiabo, Calabar on Thursday, July 23, 2009 by 10.00a.m.

TRANS-NATIONWIDE EXPRESS PLC: Audited result for the year ended 31st December 2008. The Board of Directors is recommending a dividend of N0.10 per share. The date of closure of register is August 17, 2009 while payment date is September 10, 2009. The Annual General Meeting is scheduled to hold on Thursday, August 27, 2009.

MORISON INDUSTRIES PLC: Audited result for the year ended 31st December 2008 shows Turnover of N369.23 million as against N221.8 million in 2007. Profit after tax stood at N13.9 million compared with N5.5 million in 2007. The Board of Directors is recommending a dividend of N0.05 per share. The date of closure of register is July 20, 2009 while payment date is August 20, 2009. The 54th Annual General Meeting is scheduled to hold at the Company Premises on Thursday, August 13, 2009 by 11.00a.m.

LASACO ASSURANCE PLC: Audited result for the year ended 31st December 2008 shows Gross Premium of N2,334.15 million as against N1,773.85 million in 2007. Profit after tax stood at N364.93 million compared with N688.2 million in 2007. The date of closure of register is August 3, 2009.

CHEVRON OIL NIGERIA PLC: Unaudited result for the first quarter ended 31st March 2009 shows Turnover of N13,893.32 million, as against N8,584.73 million in the comparable period of 2008. Profit after tax stood at N162.4 million compared with loss after tax of N190.63 million in 2008.

Term of the day

GRAY MARKET :

An unofficial market where new issues of shares are bought and sold before they become officially available for trading on the stock exchange.