Here is the stock market report for the week ended February  27th 2009:

A turnover of 1.75 billion shares worth N12.45 billion in 42,503 deals was recorded this week, in contrast to a total of 1.54 billion shares valued at N7.73 billion exchanged last week in 37,208 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 911.13 million shares worth N7.72 billion exchanged by investors in 23,146 deals. Volume in the Banking subsector was largely driven by activity in the shares of Guaranty Trust Bank Plc, First City Monument Bank Plc, Zenith Bank Plc and UBA Plc. Trading in the shares of the four banks accounted for 352.8 million shares, representing 38.72% of the subsector’s turnover.

The Insurance subsector, boosted by activity in the shares of Goldlink Insurance Plc and International Energy Insurance Plc, followed on the week’s activity chart with a turnover of 368.74 million shares valued at N469 million in 4,203 deals.

Last week, the Banking subsector led on the activity chart and was followed by the Insurance subsector.

Price Movement
The All-Share Index rose by 2.93% to close on Friday at 23,377.14 attributed to price increases by the highly capitalized stocks. The market capitalization of the 199 First -Tier equities closed higher at N5.23 trillion. Also, The NSE-30 Index rose by 8.5% to close at 690.98.

Three of the four sectoral indices appreciated – The NSE Banking Index rose by 5.5% to close at 371.08, The NSE Insurance Index appreciated marginally by 0.1% to close at 483.59 and The NSE Food/Beverage Index rose by 10.7% to close at 452.37. However, The NSE Oil/Gas Index dropped by 10.3% to close at 416.18.

Seventy – One (71) stocks appreciated in price during the week, higher than the thirty – seven (37) in the preceding week. Also, as in the preceding week, Nestle Nigeria Plc led on the gainers’ table with a gain of N20 .39 to close at N156.99 per share while Total Nigeria Plc followed with N5.60 to close at N117.61 per share.

Other price gainers in the Top 10 category include:
• UACN Plc -N4.35
• Lafarge Cement WAPCO Plc - N3.54
• Nigerian Breweries Plc  - N3.35
• Oando Plc  - N2.70
• Benue Cement Company Plc  - N2.08
• Guinness Nigeria Plc  - N2.00
• Glaxo Smithkline Consumer Plc  - N1.99
• UACN Property Dev. Co. Plc  - N1.95

Forty – Nine (49) stocks depreciated in price during the week, lower than the seventy – seven (77) in the preceding week. Two Petroleum (Marketing) stocks occupied the Top positions on the decliners’ table. Mobil Oil Nigeria Plc led, dr opping by N45.14 to close at N198.36 per share while African Petroleum Plc followed with a loss of N32.43 to close at N110.99 per share.

Other price losers in the Top 10 category include:
• Ecobank Transnational Incorporated – N5.81
• Wema Bank Plc  - N2.62
• Alumaco Plc  - N1.61
• National Sports Lottery Plc  - N1.04
• Cadbury Nigeria Plc  - N0.97
• C & I Leasing Plc  - N0.97
• RT Briscoe (Nig) Plc  - N0.81
• STACO Insurance Plc  - N0.77

New Listing
The N50.0 billion Lags State Fixed Rate Bond (Series 1) was admitted to the Daily Official List on Wednesday, February 25, 2009. By this action, the number of listed State Government Bonds and securities increased to 6 and 301, respectively.

Supplementary Listings
A total of 76,779,631 shares were added to the shares outstanding in the name of Intercontinental Bank Plc following the conversion of part of the bank’s Irredeemabl e Preference shares in the ratio of 1:1. Also, a total of 868,138,120 shares were added to the shares outstanding in the name of First Aluminium Nigeria Plc on Thursday, February 26, 2009 following the conclusion of the Rights Issue

Company News

1. NESTLE NIGERIA PLC: Audited result for the year ended 31st December 2008 shows Turnover of N51.74 billion as against N44.03 billion in 2007. Profit after tax stood at N8.33 billion compared with N5.44 billion in 2007. The Directors are recommending a final dividend of N10.60 per share. The date of closure of register of members is April 24, 2009 while payment date would be April 29, 2009. The stock price had on November 24, 2008 been adjusted for an interim dividend of N1.95 per share, thus bringing the total cash dividend to N12.55 per share.
2. The Annual General Meeting of Shareholders is scheduled to hold at Muson Centre, Lagos on April 28, 2009.
3. GUINNESS NIGERIA PLC: Unaudited result for the half year ended 31st December 2008 shows Turnover of N43.5 billion, as against N32.13 billion in the comparable period of 2007. Profit after tax stood at N8.1 billion compared with N5.24 billion in 2007.
4. COSTAIN (WA) PLC: Unaudited result for the third quarter ended 31st December 2008 shows Turnover of N4.32 billion, as against N2.2 billion in the comparable period of 2007. Profit after t ax stood at N287.9 million compared with N181.95 million in 2007.
5. NIGERIAN BAG MANUFACTURING CO. PLC: Unaudited result for the third quarter ended 31st December 2008 shows Turnover of N7.5 billion, as against N7.14 billion in the comparable
   period of 2007. Profit after tax and exchange rate loss stood at N75.7 million compared with profit after tax of N416.73 million in 2007.
6. GREAT NIGERIA INSURANCE PLC: Unaudited result for the first quarter ended 31st March 2008 shows Gross Premium of N228.75 million, as against N204 million in the comparable period of 2007. Profit after tax stood at N36 .05 million compared with N29.51 million in 2007.

Company Forecasts

1. NESTLE NIGERIA PLC: The Company forecasts Turnover of N63.135 billion and profit after tax of N8.37 billion during the year ending December 31, 2009. According to the Board of Directors, the realization of the forecast would depend on stable financial and business environment.
2. AIRLINE SERVICES & LOGISTICS PLC: The Company forecasts Turnover of N1.2 billion and profit after tax of N172.2 million during the first quarter ending June 30, 2009.
3. AIRLINE SERVICES & LOGISTICS PLC: The Company forecasts Turnover of N1.11 billion and profit after tax of N151.7 million during the half year ending September 30, 2009.
4. BOC GASES PLC: The Company forecasts Turnover of N530.81 million and profit after tax of N57.9 million during the half year ending June 30, 2009.
5. REGENCY ALLIANCE INSURANCE PLC: The Company forecasts Turnover of N282.64 million and profit after tax of N120.6 million during the first quarter ending March 31, 2009.

Report On The OTC Market For FGN Bonds
A turnover of 416.6 million units worth N440.24 billion in 2,814 deals was recorded this week, in contrast to a total of 268.65 million units valued at N267.3 billion exchanged in 1,972 deals during the week ended Thursday, February 19, 2009. The most active bond (measured by turnover volume) was the 3rd FGN Bond 2011 Series 13 with a traded volume of 129.7 million units valued at N151.33 billion in 1,284 deals. This was followed by the 4th FGN Bond 2010 Series 1 with a traded volume of 31.75 million units valued at N33.0 billion in 275 deals. Twenty – Nine (29) of the available thirty – nine (39) FGN Bonds were traded during the week compared to twenty – four (24) in the preceding week.