STOCK MARKET BRIEF FOR THE WEEK ENDED FRIDAY DECEMBER 05, 2008.
Stocks trading ended the week with major indicators pointing southwards. Average volume of shares traded for the week hovered around 300million shares indicating low investor’s participation in market activities as many hold on in expectation of an upward swing in market performance. Average daily decline in the NSE ASI stood at 1.75 percent as the bears continue to plod in the market. Stock Market closed the week on Friday (December 05, 2008) with the Index recording a cumulative loss of 7.18 percent to halt at 30,653.65 points while market capitalization of the 213 listed equities slumped by N342bn to close at N6.781trl (USD$57.03b).
A total of 1.59billion shares were transacted in 38,043 trades valued at N10.89 billion lower than previous week trading history of 1.72 billion shares in 44,760 deals worth N13.56 billion.

UBN Rose 3 Percent to Close the Week
In deep contrast to previous week’s frenzy, the bulls were rather quiescent week long with little spikes observed around the gainers camp. UBN took the lead on this week’s price movement chart gaining 43 kobo to close at N17.63k. UNHOMES (up 21 kobo), CUSTODYINS (up 16 kobo) and HMARKINS (up 12 kobo) also stir activities in the gainers’ territories. The bears which have in recent times appeared indefatigable “turned-in” 81 stocks into the south-pole with GUINNESS taking the lead. The share price of GUINNESS PLC plunged N21.22k from N93.92k to close the week at N72.70k. Trailing behind in the losers’ camp are OANDO (down N17.84k), NB (down N5.20k) and CONOIL (N4.73k). Only 6 stocks made it to the gainers camp at the close of trade this week end while 20 remained stagnant and 81 slept with the bears.

CHAMS Propel Telecomms Sector
The banking Sector remained upbeat recording the highest volume of transaction measured in turnover volume of shares. In 23,606 deals, investors exchanged over 795 million shares which were valued at N7.44 billion. Shares traded in the insurance sector was 42 percent lower than the banking sector’s as market participants exchange stakes in 332 million shares in 3,537 trades worth N389 million. Telecommunication sector ranked third in sectoral performance with 233 million shares.

CORPORATE NEWS:
FIDSON, Others Post Results
Nigerian Breweries Plc, STACO Insurance Plc, Nigerian Bag Manufacturing Company Plc (BAGCO), THOMAS WYATT Plc, Evans Medical Plc, Fidson Healthcare Plc, and STOKVIS Nigeria Plc all made public their results for the respective period ended as shown below in table 3.

Benefit Declaration
The board of FIDSON Healthcare Plc on Thursday, December 04, 2008 proposed a dividend of 20 kobo per share. Closure date was scheduled for December 17 to 19, 2008 and payment date January 27, 2009.