A turnover of 1.2 billion shares worth N6.1 billion in 33,058 deals was recorded this week, in contrast to a total of 1.6 billion shares valued at N6.34 billion exchanged last week in 25,843 deals. This included a total of 5,000 units of Access Bank Plc N13.5 Billion Redeemable Convertible Bond worth N5.0 million.
 
There were no transactions in the Federal Government Development Stocks, State Government Bonds and Preference Stocks sectors.
 
The Banking subsector was the most active during the week (measured by turnover volume), with 624.34 million shares worth N3.9 billion exchanged by investors in 17,323 deals. Volume in the Banking subsector was largely driven by activity in the shares of Spring Bank Plc, First Inland Bank Plc, Access Bank Plc and Oceanic Bank International Plc. Trading in the shares of the four banks accounted for 242.5 million shares, representing 38.84% of the subsector’s turnover.
 
The Insurance subsector, boosted by activity in the shares of Guinea Insurance Plc and Custodian and Allied Insurance Plc, followed on the week’s activity chart with a turnover of 280.92 million shares valued at N312.2 million in 2,553 deals.
 
Last week, the Banking subsector led on the activity chart and was followed by the Insurance subsector.
 
Price Movement
The All-Share Index dropped by 3.02% to close on Friday at 20,370.06. The market capitalization of the 199 First -Tier equities closed lower at N4.6 trillion. Also, The NSE-30 Index dropped by 0.9% to close at 644.36.
 
All the four sectoral indices depreciated – The NSE Banking Index dropped by 2.6% to close at 323.69, The NSE Insurance Index dropped by 4.0% to close at 416.69 while The NSE Food/Beverage Index dropped by 2.3% to close at 423.83 and The NSE Oil/Gas Index dropped by 8.0% to close at 308.13.
 
Twenty – Seven (27) stocks appreciated in price during the week, higher than the twenty (20) in the preceding week. Total Nigeria Plc led on the gainers’ table with a gain of N13.01 to close at N136.50 per share while Guinness Nigeria Plc followed with N2.59 to close at N88.59 per share. Other price gainers in the Top 10 category include:
 + Nigerian Breweries Plc - N1.85
 + Glaxo Smithkline Consumer Plc - N1.67
 + Nestle Nigeria Plc - N1.00
 + Pinnacle Point Group Plc - N0.94
 + Guaranty Trust Bank Plc - N0.64
 + Custodian & Allied Insurance Plc - N0.53
 + Cement Co. of Northern Nigeria Plc - N0.41
 + International Breweries Plc - N0.40
 
Seventy – Nine (79) stocks depreciated in price during the week, lower than the eighty (80) in the preceding week. Two Petroleum (Marketing) stocks occupied the Top positions on the decliners’ table. As in the preceding week, Mobil Oil Nigeria Plc led, dropping by N28.15 to close at N96.90 per share while African Petroleum Plc followed with a loss of N15.81 to close at N54.18 per share. Other price losers in the Top 10 category include:
 
- Nigerian Enamelware Plc - N6.36
- Ecobank Transnational Incorporated - N3.48
- Oando Plc - N3.40
- Julius Berger Nigeria Plc - N2.73
- Lafarge Cement WAPCO Nig. Plc - N1.64
- Benue Cement Company Plc - N1.35
- UACN Property Dev. Co. Plc - N1.30
- Union Bank of Nigeria Plc - N1.16
 
New Listing
The 4,579,782,814 shares of N0.0015 each at N6.00 per share in favour of Pinancle Point Group Plc was admitted to the Daily Official List on Tuesday, March 17, 2009 by way of Introduction in the Foreign Listings subsector. By this action, the number of listed Companies and securities increased to 214 and 301, respectively.
 
Supplementary Listing
A total of 2,500,000,000 shares were added to the shares outstanding in the name of AIICO Insurance Plc on Wednesday, March 18, 2009 following the conclusion of public offering.
 
Technical Suspension
This was placed on Eterna Oil & Gas Plc on receiving a revised application for supplementary share offering from the Company.
 
Company News
GLAXO SMITHKLINE CONSUMER PLC: Audited result for the year ended 31st December 2008 shows Turnover of N12,545 million as against N9,915 million in 2007. Profit after tax stood at N1,277 million compared with N836.9 million in 2007. The Board of Directors is recommending a dividend of N0.60 per share. The date of closure of register of members is April 27, 2009 while payment date is May 21, 2009. The Annual General Meeting is scheduled to hold at Shell Nigeria Hall, Muson Centre, Onikan, Lagos on Thursday, May 21, 2009 by 11.00a.m.
 
CEMENT COMPANY OF NORTHERN NIGERIA PLC: Audited result for the year ended 31st December 2008 shows Turnover of N9,878 million as against N8,043 million in 2007. Profit after tax stood at N1,530 million compared with N138.7 million in 2007. The Board of Directors is recommending a final dividend of N0.45 per share. The date of closure of register of members is April 20, 2009 while payment date is May 6, 2009. The stock price had on September 4, 2008 been adjusted for an interim dividend of N0.45 per share, thus bringing the total cash dividend to N0.90 per share. The Annual General Meeting is scheduled to hold at Giginya Hotel, Sokoto on Wednesday, April 29, 2009 by 11.0a.m.
 
RT BRISCOE (NIG) PLC: Audited result for the year ended 31st December 2008 shows Turnover of N20,051 million as against N16,239 million in 2007. Profit after tax stood at N628.02 million compared with N609.94 million in 2007. The Board of Directors is recommending a dividend of N0.40 per share and bonus of 1 for 5. The date of closure of register
of members is March 30, 2009 while payment date is June 1, 2009. The Annual General Meeting is scheduled to hold at Lagos Sheraton Hotel and Towers, 30 Mobolaji Bank Anthony Way, Ikeja, Lagos on Thursday, May 14, 2009 by 11.00a.m.
 
THE OKOMU OIL PALM COMPANY PLC: Audited result for the year ended 31st December 2008. The Board of Directors is recommending a dividend of N0.25 per share. The date of closure of register of members is May 18, 2009 while payment date would be advised later. The Annual General Meeting is scheduled to hold in Abuja on Wednesday, June 10, 2009.
 
SCOA NIGERIA PLC: Audited result for the year ended 31st December 2007 shows Turnover of N2,746 million as against N1,868 million in 2006. Profit after tax and exceptional items stood at N822.5 million compared with N705.72 million in 2006. Exceptional items represent Net Profit on disposal of the Company’s Properties that were n longer utilized in the Company’s operation. The Board of Directors is recommending a dividend of N0.15 per share. The date of closure of register of members is April 1, 2009 while payment date is April 30, 2009. The Annual General Meeting is scheduled to hold at Tahir Guest House, Kano on Tuesday, April 16, 2009.
 
NIGERIAN BOTTLING COMPANY PLC: Unaudited result for the third quarter ended 30th September 2008 shows Turnover of N56,474 million, as against N48,687 million in the comparable period of 2007. Profit after tax stood at N974 million compared with N1,677 million in 2007.
 
FIDSON HEALTHCARE PLC: Unaudited result for the half year ended 31st December 2008 shows Turnover of N3,003 million, as against N1,612 million in the comparable period of 2007. Profit after tax stood at N288.92 million compared with N160.45 million in 2007.
 
VITAFOAM NIGERIA PLC: Unaudited result for the first quarter ended 31st December 2008 shows Turnover of N2,166 million, as against N1,920 million in the comparable period of 2007. Profit after tax stood at N109.8 million compared with N121.82 million in 2007. The Board of Directors explained that the recent upward movement in foreign exchange rates impacted negatively on the cost of the Company’s imported raw materials and profit.
 
Company Forecasts
CEMENT COMPANY OF NORTHERN NIGERIA PLC: The Company forecasts Turnover of N3,120 million and profit after tax of N460.5 million during the half year ending June 30, 2009.
 
UACN PROPERTY DEVELOPMENT CO. PLC: The Company forecasts Turnover of N7,769 million and profit after tax of N1,413 million during the half year ending June 30, 2009.
 
RT BRISCOE (NIG) PLC: The Company forecasts Turnover of N4,412 million and profit after tax of N137.02 million during the first quarter ending March 31, 2009.
 
CAP PLC: The Company forecasts Turnover of N1,230 million and profit after tax of N198.21 million during the half year ending June 30, 2009.
 
SCOA NIGERIA PLC: The Company forecasts Turnover of N1,276 million and profit after tax of N146 million during the first quarter ending March 31, 2009.
MUTUAL BENEFITS ASSURANCE PLC: The Company forecasts Gross Premium of N1,125 million and profit after tax of N558.01 million during the first quarter ending March 31, 2009.
 
PRESTIGE ASSURANCE PLC: The Company forecasts Gross Premium of N1,870 million and profit after tax of N409 million during the half year ending June 30, 2009.
 
OASIS INSURANCE PLC: The Company forecasts Gross Premium of N363.0 million and profit after tax of N315.01 million during the half year ending June 30, 2009.
 
Report On The OTC Market For FGN Bonds
A turnover of 185.9million units worth N184.44 billion in 921 deals was recorded this week, in contrast to a total of 210 million units valued at N208.91 billion exchanged in 869 deals during the week ended Thursday, March 12, 2009. The most active bond (measured by turnover volume) was the 5th FGN Bond 2013 Series 1 with a traded volume of 28.3 million units valued at N27.6 billion in 71 deals. This was followed by the 4th FGN Bond 2017 Series 9 with a traded volume of 21.2 million units valued at N20.01 billion in 69 deals. Twenty – five (25) of the available thirty – nine (39) FGN Bonds were traded during the week compared to twenty – four (24) in the preceding week.