A turnover of 1.42 billion shares worth N7.84 billion in 37,047 deals was recorded this week, in contrast to a total of 935.6 million shares valued at N6.8 billion exchanged last week in 33,923 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 655.8 million shares worth N5 billion exchanged by investors in 21,622 deals. Volume in the Banking subsector was largely driven by activity in the shares of Fidelity Bank Plc and First City Monument Bank Plc. Trading in the shares of the two banks accounted for 256.03 million shares, representing 39.04% of the subsector’s turnover.

The Conglomerates subsector, boosted by activity in the shares of Transnational Corporation of Nigeria Plc, followed on the week’s activity chart with a turnover of 252.53 million shares valued at N342.31 million in 1,160 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 11.5% to close on Friday at 24,000.09. The market capitalization of the 198 First -Tier equities closed lower at N5.34 trillion.

Two (2) stocks appreciated in price during the week, lower than the fourteen (14) in the preceding week. UACN Plc led on the gainers’ table with a gain of N0.34 to close at N28.99 per share while Omatek Ventures Plc followed with N0.05 to close at N1.26 per share.

One Hundred and Eleven (111) stocks depreciated in price during the week, higher than the seventy – six (76) in the preceding week. Mobil Oil Nigeria Plc led on the price losers’ table, dropping by N32.38 to close at N298.91 per share while African Petroleum Plc followed with a loss of N28.65 to close at N265.33 per share. Other price losers in the Top 10 category include:

+ Nestle Nigeria Plc – N25.92
+ Longman Nigeria – N20.22
+ Total Nigeria Plc – N18.86
+ Chevron Oil Nigeria – N12.75
+ Oando Plc – N8.45
+ Conoil Plc – N7.64
+ Skye Shelter Fund Plc – N5.55
+ Julius Berger Nigeria – N5.42

Price Adjustments
The price of Longman Nigeria Plc was adjusted for bonus of 2 for 1 as recommended by the Board of Directors

Supplementary Listings
A total of 4,750,000,000 shares were added to the shares outstanding in the name of Custodian and Allied Insurance Plc on Wednesday, January 21, 2009 following the conclusion of Public |Offering. Also, a total of 514,300,000 shares were added to the shares outstanding in the name of Longman Nigeria Plc on Thursday, January 22, 2009 following the bonus of 2 for 1.

News
1. LONGMAN NIGERIA PLC: The Directors are recommending a bonus of 2 for 1. The date of closure of register of members is January 22, 2009.An extra-Ordinary General Meeting (EGM) is scheduled to hold on Tuesday, January 27, 2009
2. VITAFOAM NIGERIA PLC: Audited result for the year ended 30th September 2008 shows Turnover of N8.2 billion as against N6.15 million in 2007. Profit after tax stood at N698.3 million compared with N439.31 million in 2007. The Directors are recommending a dividend of N0.30 per share. The date of closure of register of members is February 16, 2009 while payment date is March 20, 2009. The Annual General Meeting is scheduled to hold on March 5, 2009 at Sheraton Hotel and Towers, Mobolaji Bank Anthony Way Ikeja, Lagos by 10.00a.m.
3. DEAP CAPITALMANAGEMENT & TRUST PLC: Audited result for the year ended 30th September 2008 shows Turnover of N1.33 billion as against N739.45 million in 2007. Profit after tax stood at N343.85 million compared with N308.54 million in 2007. The Directors are recommending a dividend of N0.15 per share. The date of closure of register of members is February 9, 2009 while payment date is March 19, 2009.
4. PZ CUSSONS NIGERIA PLC: Unaudited result for the half year ended 30th November 2008 shows Turnover of N35.9 billion, as against N29.95 billion in the comparable period of 2007. Profit after tax stood at N1.5 billion compared with N1.4 billion in 2007.

Forecasts
CUSTODIAN & ALLIED INSURANCE PLC: The Company forecasts Gross Premium of N2 billion and profit after tax of N1.1 billion during the first quarter ending March 31, 2009.

Bond Reports
A turnover of 495.42 million units worth N501.85 billion in 3,924 deals was recorded this week, in contrast to a total of 140.91 million units valued at N142.5 billion exchanged in 377 deals during the week ended Thursday, January 15, 2009. The most active bond (measured by turnover volume) was the 4th FGN Bond 2010 Series 4 with a traded volume of 60.0 million units valued at N59.35 billion in 369 deals.

This was followed by the 4th FGN Bond 2010 Series 1 with a traded volume of 52.5 million units valued at N56.22 billion in 481 deals. Twenty – Two (22) of the available thirty – nine (39) FGN Bonds were traded during the week compared to twenty-seven (27) in the preceding week.