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The week under review witnessed a rebound in the market after suffering from long dominance by the bears. The NSE Index and Market Capitalization appreciated by 9.44% and 9.42% respectively to close the week at 23,516.06 points and N5.34 trillion compared with 21,491.11 points and N4.88 trillion the prior week. The market appreciated steadily all through the week which is expected to continue next week.
On the other hand, the total volume and value of trades during the week dipped by 6.41% and 9.87% while the number of deals increased by 11.89% when compared to the previous week’s position. Investors traded on 1.46 billion units of shares worth N10.41 billion in 30,393 deals in contrast with 1.56 billion units valued at N11.55 billion exchanged in 27,163 deals the previous week
Analysis of Top Percentage Gainers and Losers
After comparing last week’s (April 30, 2009) closing price with this week’s, we arrived at 75 (55%) advancers, 24 (18%) decliners and 37 (27%) which remained constant in their share prices, signifying a return of the bulls.
Top Gainers by Percentage
Sterling Bank recorded the highest percentage gain for the week, increasing by N0.42kobo (26.25%) to close at N2.02. Others were Ashaka Cement, Nigerian Breweries, Bank PHB, Afribank, National Salt Company of Nigeria, Nigerian Bottling Company, Omatek Ventures, Wema Bank, Unilever, Zenith Bank, ABC Transport, Mutual Benefit, and so on.
| Notable Percentage Gainers | ||||
| Stock | 30/04/09 | 8/5/2009 | Change | % Change |
| STERLNBANK | 1.6 | 2.02 | 0.42 | 26.25 |
| STARCOMMS | 2.1 | 2.65 | 0.55 | 26.19 |
| FLOURMILL | 16.75 | 21.01 | 4.26 | 25.43 |
| ASHAKACEM | 8.2 | 10.08 | 1.88 | 22.93 |
| FIDELITYBK | 2.3 | 2.81 | 0.51 | 22.17 |
| NB | 43 | 52.5 | 9.5 | 22.09 |
| UBA | 10.71 | 13.04 | 2.33 | 21.76 |
| NEM | 0.6 | 0.73 | 0.13 | 21.67 |
| ACCESS | 5.65 | 6.87 | 1.22 | 21.59 |
| OCEANIC | 6.9 | 8.3 | 1.4 | 20.29 |
| NIGERINS | 2.13 | 2.56 | 0.43 | 20.19 |
| PLATINUM | 5.23 | 6.24 | 1.01 | 19.31 |
| BCC | 23 | 27.3 | 4.3 | 18.7 |
| AFRIBANK | 5.18 | 6.14 | 0.96 | 18.53 |
| IBTC | 6.25 | 7.4 | 1.15 | 18.4 |
Top Losers by Percentage
Notable on the decliners table were Equity Assurance, Ecobank Transnational Incorporated, A.G. Leventis, Livestock Feeds, Nestle Foods, Consolidated Hallmark, GlaxoSmithKline, Continental Re-insurance, Dunlop, Conoil, Daar Communications, among others.
| Notable Percentage Losers | ||||
| Stock | 30/04/09 | 8/5/2009 | Change | % Change |
| EQUITYASUR | 1.11 | 0.88 | -0.23 | -20.72 |
| GUARANTY | 12.76 | 10.17 | -2.59 | -20.3 |
| FIRSTALUM | 1.46 | 1.21 | -0.25 | -17.12 |
| STDINSURE | 0.71 | 0.64 | -0.07 | -9.86 |
| DEAPCAP | 4.44 | 4.01 | -0.43 | -9.68 |
| LIVESTOCK | 1.26 | 1.15 | -0.11 | -8.73 |
| ETI | 9.12 | 8.44 | -0.68 | -7.46 |
| 7UP | 40.97 | 38.93 | -2.04 | -4.98 |
| AIRSERVICE | 9.08 | 8.63 | -0.45 | -4.96 |
| AGLEVENT | 6.46 | 6.14 | -0.32 | -4.95 |
| CONTINSURE | 0.82 | 0.78 | -0.04 | -4.88 |
| FIRSTINLND | 2.3 | 2.19 | -0.11 | -4.78 |
| NESTLE | 178.29 | 169.81 | -8.48 | -4.76 |
| LAWUNION | 1.07 | 1.02 | -0.05 | -4.67 |
| JAPAULOIL | 1.53 | 1.47 | -0.06 | -3.92 |
News
GTB and Custodian & Allied Marked Down The shares of Guaranty Trust Bank Plc and Custodian & Allied Insurance Plc were marked down on Wednesday May 6, 2009 for dividends of N1.00 and scrip issue of 1 for 4 (GTB), and N0.075k (Custodian & Allied Insurance).
Ecobank Nigeria Acquires AIB: The Exchange was informed during the week by the Management of Ecobank Nigeria Plc of its acquisition of African International Bank (AIB) Plc in pursuant to a share sale and purchase agreement with the shareholders of AIB.
Forte Weekly Market Review May 08, 2009 (94) FSDH - Weekly Report - May 8th 2009 (160)This blog is dedicated to informing users on the latest business and economic news news from the CBN and Nigerian Stock Exchange. Happy reading!