Hopes that the Nigerian stock market would return to profitability dimmed today as all market indices closed in red.

Investors have since Monday reacted negatively to the Central Bank of Nigeria (CBN) governor’s decision to fire five bank’s executives, citing various irregularities.

At the close of trading today, the All share index, which shows the direction of stocks prices fell by 0.91 percent to close at 21,973.96 from 22,175.24 points the previous day, while the Market capitalization depreciated by N46.14 billion or 0.91 percent.

13 Stocks also appreciated like that of the previous trading.

Market patronage in terms of Volume of shares exchanged by investors drop by 84.95 million ordinary shares or 23.62 percent when compared with the position of yesterday. In essence, an aggregate of 274.77 million ordinary shares were traded in 5,275 deals today as against a volume of 359.72 million traded in 4,707 deals in the previous transaction.

Turnover by value was on the downswing like volume as it closed at N1.57 billion; N0.41 billion or 20.71 percent drop as against N1.98 billion worth of stocks traded in the previous trading day

Table 1

Market Statistics

	Today 21/08/2009	Previous day 20/08/2009	% Change
NSE All- Share Index	21,973.96	22,175.24	-0.91
Total Deals	5,275	4,707	12.07
Volume Traded (M)	274.77	359.72	-23.62
Value Traded (N’B)	1.57	1.98	-20.71
Turn Over Ratio %	0.05	0.07	-28.57% Change Point
Mkt. Capt. (N’B)	5,037.14	5,083.28	-0.91

Oando Plc lead the top gainers list again as the stock added N4.00 or 4.65 percent to its share price to close the market at N90.00 from its opening price of N86.00. Nigeria Breweries Plc came second on the list, having gained N2.74 or 4.98 percent as it opened and closed the day at N54.99 and N57.73 respectively.

Table 2

Stock	Opening Price (N:K)	Closing Price (N:K)	Absolute Change (N:K)	% rise
OANDO	86.00	90.00	+4.00	4.65
NB	54.99	57.73	+2.74	4.98
GUARANTY	11.31	11.87	+0.56	4.95
DIAMONDBNK	5.65	5.87	+0.22	3.89
UACN	36.60	36.71	+0.11	0.30

Figure 1

Top 5 Price Gainers

2

On the losers’ chart, Total Plc lead the table for the day as the company share price declined by N6.56 or 5.00 percent to close the market at N124.77 per share, from it opening price of N131.33. Followed on the Chart was African Petroleum (AP) Plc that lost N2.66 or 5.00 percent to close the day at N50.59 per share.

Table 3

Stock	Opening Price (N:K)	Closing Price (N:K)	Absolute Change (N:K)	% drop
TOTAL	131.33	124.77	-6.56	5.00
AP	53.25	50.59	-2.66	5.00
BCC	35.70	33.92	-1.78	4.99
FLOURMILL	19.50	18.53	-0.97	4.97
UNILEVER	17.49	16.62	-0.87	4.97

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 112.18 million ordinary shares traded to control 40.83 percent of the aggregate volume of shares traded. The Insurance sector, with 66.53 million ordinary shares, traded trailed behind the Banking sector which represents 24.21 percent of the total volume traded.

Figure 3

Japaul Oil Plc emerges first as the most patronized stock for the day. Investors traded 52.66 million ordinary shares to controlled 100 percent of the aggregate volume traded in the Maritime sector and 19.17 percent of the entire market. United Bank for Africa (UBA) Plc (20.99 million ordinary shares) emerged second position on the list.

Table 4

5 Most Traded Stocks by Volume

Stock	Price (N: K)	Volume (M)
JAPAULOIL	1.18	52.66
UBA	9.65	20.99
AIICO	0.83	16.70
SKYEBANK	4.07	15.46
GUARANTY	11.87	15.53

Figure 4

5 Most traded Stocks by Volume

Monetary Policy Rate: 6.00 %

Business News

IKEJA HOTEL PLC: Audited result for the year ended 31st December 2008 shows Turnover of N6,455 million as against N5,282.35 million in 2007. Profit after tax stood at N872.53 million compared with N697.75 million in 2007. The Board of Directors is recommending a bonus of 1 for 5. The date of closure of register is September 14, 2009. The 36th Annual General Meeting is scheduled to hold at Sheraton Hotel & Towers, 30 Mobolaji Bank Anthony Way, Ikeja Lagos on Thursday, October 8, 2009 by 12.00noon.

CUTIX PLC: Audited result for the year ended 30th April 2009 shows Turnover of N1,323.45 million as against N1,307.34 million in 2008. Profit after tax and exceptional items stood at N78.31 million compared with profit after tax N114.5 million in 2008. The Board of Directors explained that the exceptional items consist of severance benefits paid to key management and other staff that left the company after long years of service.

OANDO PLC: Unaudited result for the half year ended 30th June 2009 shows Turnover of N165,036.0 million, as against N124,415.0 million in the comparable period of 2008. Profit after tax stood at N3,809.0 million compared with N3,673.0 million in 2008.

CUSTODIAN & ALLIED INSURANCE PLC: Unaudited result for the half year ended 30th June 2009 shows Gross Premium of N2,873.5 million, as against N2,012.9 million in the comparable period of 2008. Profit after tax stood at N851.62 million compared with N648.61 million in 2008.

STANDARD ALLIANCE INSURANCE PLC: Unaudited result for the first quarter ended 31st March 2009 shows Gross Premium of N1,397.01 million, as against N827.95 million in the comparable period of 2008. Profit after tax stood at N596.5million compared with N259.54 million in 2008.

UNION DIAGNOSTICS & CLINICAL SERVICES PLC: Audited result for the year ended 31st December 2008 shows Turnover of N1,033.7 million as against N545.8 million in 2007. Profit after tax stood at N370.1 million compared with N255.1 million in 2007. The Board of Directors is recommending a dividend of N0.08 per share and bonus of 1 for 5. The date of closure of register is September 7, 2009 while payment date is October 15, 2009. The Annual General Meeting is scheduled to hold at Manuel Mary Hall, Pyramid Hotels, Plot 160 Murtala Mohammed Highway, Calabar, Cross Rivers State on Monday, September 14, 2009 by 1.00p.m.

PORTLAND PAINTS & PRODUCTS NIGERIA PLC: Unaudited result for the half year ended 30th June 2009 shows Turnover of N1,122 million, as against N885.7 million in the comparable period of 2008. Profit after tax stood at N103.51 million compared with N70.14 million in 2008.

MULTIVERSE RESOURCES PLC: Unaudited result for the half year ended 30th June 2009 shows Turnover of N281.6 million, as against N186.8 million in the comparable period of 2008. Profit after tax stood at N38.51 million compared with N23.7 million in 2008.

LIVESTOCK FEEDS PLC: Unaudited result for the half year ended 30th June 2009 shows Turnover of N1,021.81 million, as against N850.3 million in the comparable period of 2008. Profit after tax stood at N10.12 million compared with N37.4million in 2008.

NCR (NIG) PLC: Unaudited result for the half year ended 30th June 2009 shows Turnover of N2,514.65 million, as against N1,879.8million in the comparable period of 2008. Profit after tax stood at N232.75 million compared with loss before tax of N85.2 million in 2008.

Note:

Two weeks of full suspension was imposed on trading of the shares of Afribank Nigeria Plc, Oceanic Bank International Plc, Fin Bank Plc, Intercontinental Bank Plc and Union Bank of Nigeria Plc on Monday, August 17, 2009 following the takeover of the banks by the Central Bank of Nigeria (CBN). The decision followed a tripartite agreement between the CBN, SEC and The NSE on the need to protect investors and prevent unprecedented dumping of the shares of the five banks. The suspension would be reviewed after two weeks.

Term of the day:

EARNINGS SEASON

The months in which a majority of quarterly corporate earnings are released to the public. Earnings season occurs in the month following the end of each quarter: January, April, July or October.