Courtesy of Investor Delight, here is he market report for the week ended March 6th, 2009:

Market Report For The Week Ended March 6th, 2009

A turnover of 1.54 billion shares worth N9.42 billion in 33,641 deals was recorded this week, in contrast to a total of 1.75 billion shares valued at N12.45 billion exchanged last week in 42,503 deals.
 
There were no transactions in the Federal Government Development Stocks, State Government Bonds and Industrial Loans/Preference Stocks sectors.
 
The Banking subsector was the most active during the week (measured by turnover volume), with 978.7 million shares worth N6,548 million exchanged by investors in 18,414 deals. Volume in the Banking subsector was largely driven by activity in the shares of Spring Bank Plc, Access Bank Plc and Intercontinental Bank Plc. Trading in the shares of the three banks accounted for 506.31 million shares, representing 51.73% of the subsector’s turnover.
 
The Insurance subsector, boosted by activity in the shares of Investment and Allied Assurance Plc and AIICO Insurance Plc, followed on the week’s activity chart with a turnover of 217.41 million shares valued at N198.6 million in 3,207 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 6.35% to close on Friday at 21,893.04. The market capitalization of the 198 First -Tier equities closed lower at N4.9 trillion. Also, The NSE-30 Index dropped by 4.2% to close at 661.98.
 
All of the four sectoral indices depreciated – The NSE Banking Index dropped by 5.7% to close at 349.83, The NSE Insurance Index dropped by 4.9% to close at 459.80 while The NSE Food/Beverage Index dropped by 2.4% to close at 441.54 and The NSE Oil/Gas Index dropped by 10.9% to close at 370.91.
 
Twenty – Two (22 stocks appreciated in price during the week, lower than the seventy – one (71) in the preceding week. Total Nigeria Plc led on the gainers’ table with a gain of N5.88 to close at N123.49 per share while Guinness Nigeria Plc followed with N4.00 to close at N83.00 per share. Other price gainers in the Top 10 category include:
- Flour Mills of Nigeria Plc – N1.18
- National Salt Company of Nigeria Plc – N0.93
- Lafarge Cement WAPCO Nig. Plc – N0.85
- Northern Nig. Flour Mills Plc – N0.77
- Dangote Flour Mills Plc – N0.47
- Red Star Express Plc – N0.44
- Intercontinental Bank Plc – N0.42
- Cement Co. of Northern Nig. Plc – N0.25
 
Eighty – Five (85) stocks depreciated in price during the week, higher than the forty – nine (49) 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 N44.85 to close at N153.51 per share while African Petroleum Plc followed with a loss of N25.08 to close at N85.91 per share. Other price losers in the Top 10 category include:
- Nestle Nigeria Plc – N13.99
- Ecobank Transnational Incorporated – N4.73
- Oando Plc – N2.00
- PZ Cussons Nig. Plc – N2.00
- UACN Plc – N1.86
- Nig. Bottling Co. Plc – N1.80
- Wema Bank Plc – N1.65
- Nigerian Breweries Plc – N1.42
 
Delisting
Universal Trust Bank Plc was delisted from the Daily Official List on Tuesday, March 3, 2009 following the successful takeover of the bank by Union Bank of Nigeria Plc. By this action, the number of listed Companies and securities decreased to 213 and 300, respectively.
 
Company News
NIGERIAN BREWERIES PLC: Audited result for the year ended 31st December 2008 shows Turnover of N145,462 million as against N111,748 million in 2007. Profit after tax stood at N25,701 million compared with N18,943 million in 2007. The Directors are recommending a final dividend of N0.50 per share. The date of closure of register of members is March 30, 2009 while payment date would be May 21, 2009. The stock price had on October 9, 2008 and December 29, 2008 been adjusted for interim dividends of N1.00 and N1.90 per share respectively, thus bringing the total cash dividend to N3.40 per share. The 63rd Annual General Meeting of Shareholders is scheduled to hold at Grand Banquet Hall, Civic Centre, Ozumba Mbadiwe Road, Opposite 1004 Estate, Victoria Island Lagos on May 20, 2009 by 10.00a.m.
 
LAFARGE CEMENT WAPCO NIGERIA PLC: Audited result for the year ended 31st December 2008 shows Turnover of N43,274 million as against N38,665 million in 2007. Profit after tax and exceptional items stood at N11,252 million compared with profit after tax, exceptional and extra-ordinary items of N10,679 million in 2007. The Directors had earlier recommended a dividend of N0.60 per share. The date of closure of register of members is May 14, 2009 while payment date is May 27, 2009. The Annual General Meeting of Shareholders is scheduled to hold on May 27, 2009.
 
FIRST INLAND BANK PLC: Audited result for the year ended 30th April 2008 shows Gross Earnings of N37, 987 million as against N27,472 million in 2007. Profit after tax stood at N1, 074 million compared with profit after tax and Goodwill Amortization of N2,716 million in 2007.
 
ELLAH LAKES PLC: Audited result for the year ended 31st July 2008 shows Turnover of N35.2 million as against N27.91 million in 2007. Loss before tax stood at N3.71 million compared with profit after tax of N5.3 million in 2007.
 
PREMIER BREWERIES PLC: Audited result for the year ended 31st March 2008 shows NIL Turnover same as in 2007. Loss after tax stood at N23.005 million compared with N224.21 million in 2007. Consequently, if previous years’ losses are taken into account, the retained loss carried forward stood at N440.3 million compared to N417.3 million in 2007. The 13th Annual General Meeting of Shareholders is scheduled to hold at the Conference Hall, Zodiac Hotel, 5/7 Rangers Avenue, Enugu, Enugu State on March 13, 2009 by 2.00p.m.
 
LIVESTOCK FEEDS PLC: Unaudited result for the third quarter ended 31st December 2008 shows Turnover of N2,019 million, as against N932 million in the comparable period of 2007. Profit after tax stood at N63.54 million compared with N57.61 million in 2007. The Company effected a change in the year end from March 31 to December 31.
 
RED STAR EXPRESS PLC: Unaudited result for the third quarter ended 31st December 2008 shows Turnover of N3.1 million, as against N2.41 million in the comparable period of 2007. Profit after tax stood at N0.257 million compared with N0.215 million in 2007.
 
INTERLINKED TECHNOLOGIES PLC: Unaudited result for the half year ended 31st December 2008 shows Turnover of N64.22 million, as against N67.91 million in the comparable period of 2007. Loss before tax stood at N1.65 million compared with profit before tax of N26.4 million in 2007.
 
Company Forecasts
NESTLE NIGERIA PLC: The Company forecasts Turnover of N13,657 million and profit after tax of N1,811million during the half year ending June 30, 2009. According to the Board of Directors, the realization of the forecast would depend on stable financial and business environment.
 
STACO INSURANCE PLC: The Company forecasts Gross Premium of N2.25 billion and profit after tax of N375.1 million during the first quarter ending March 31, 2009.
 
CEMENT COMPANY OF NORTHERN NIGERIA PLC: The Company forecasts Turnover of N2,600 million and profit after tax of N268.114 million during the first quarter ending March 31, 2009.
 
LIVESTOCK FEEDS PLC: The Company forecasts Turnover of N981.5 million and profit after tax of N44.32 million during the half year ending June 30, 2009.
 
UTC NIGERIA PLC: The Company forecasts Turnover of N535.1 million and profit after tax of N4.44 million during the first quarter ending March 31, 2009.
 
ALUMINIUM EXTRUSION INDUSTRIES PLC: The Company forecasts Turnover of N238.21 million and profit after tax of N17.1million during the first quarter ending March 31, 2009.