A turnover of 935.6 million shares worth N6.8 billion in 33,923 deals was recorded last week, in contrast to a total of 1.045 billion shares valued at N7.25 billion exchanged the week before in 34,103 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 501.7 million shares worth N4.3 billion exchanged by investors in 20,611 deals. Volume in the Banking subsector was largely driven by activity in the shares of Fidelity Bank Plc and First Bank of Nigeria Plc. Trading in the shares of the three banks accounted for 204.73 million shares, representing 40.8% of the subsector’s turnover.

The Insurance subsector, boosted by activity in the shares of NEM Insurance4 Co. Plc, followed on the week’s activity chart with a turnover of 146.51 million shares valued at N166.93 million in 2,698 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 6.1% to close on Friday at 27,108.54. The market capitalization of the 198 First -Tier equities closed lower at N6.032 trillion.

Fourteen (14) stocks appreciated in price during the week, higher than the nine (9) in the preceding week. Benue Cement Company Plc led on the gainers’ table with a gain of N2.42 to close at N20.98 per share while BOC Gases Plc followed with N1.68 to close at N18.15 per share. Other price gainers in the Top 10 category include:
+ 7-Up Bottling Co. Plc – N1.37
+ National Sports Lottery Plc – N0.76
+ Airlines Services & Logistics Plc – N0.68
+ Vitafoam Nigeria Plc – N0.40
+ Big Treat Plc – N0.16
+ Evans Medical Plc – N0.15
+ First Bank of Nigeria Plc – N0.10
+ Fidelity Bank Plc – N0.09

Seventy – Six (76) stocks depreciated in price during the week, lower than the eighty – five (85) in the preceding week. Guinness Nigeria Plc led on the price losers’ table, dropping by N9.90 to close at N73.00 per share while Oando Plc followed with a loss of N7.27 to close at N74.91 per share. Other price losers in the Top 10 category include:

- Chevron Oil Nigeria Plc – N7.20
- UACN Plc – N6.50
- Nigerian Bottling Company Plc – N3.60
- Lafarge WAPCO Plc – N3.55
- UACN Property Dev. Co. Plc – N3.12
- Ashaka Cement Plc – N2.99
- Cadbury Nigeria Plc – N2.98
- Flour Mills of Nigeria Plc – N2.50

Supplementary Listing
A total of 80,750,000 shares were added to the shares outstanding in the name of Longman Nigeria Plc on Thursday, January 15, 2008 following the conclusion of Placing in favour of Longman Group (Oversea Holdings) Limited. The technical suspension was subsequently lifted.

Delisting
An amount of N3.375 billion was delisted from the Access Bank Plc N13.5 billion Naira Denominated 3-Year Redeemable Convertible Bond on Wednesday January 14, 2009 following confirmation of redemption payment. Also, the 2nd FGN Bond 2008 (Series 7) and 2nd FGN Bond 2008 were delisted from the Daily Official List on Wednesday, January 14, 2009 on maturity and confirmation of retirement. By this action, the number of listed FGN bonds and securities decreased to 35 and 299, respectively.

Company News
ASO SAVINGS & LOANS PLC: Unaudited result for the third quarter ended 31st December 2008 shows Turnover of N7.9 billion, as against N6.2 billion in the comparable period of 2007. Profit after tax stood at N1.21 billion compared with N680.6 million in 2007.

UNIC INSURANCE PLC: Unaudited result for the third quarter ended 30th September 2008 shows Gross Premium of N1.84 billion, as against N1.4 billion in the comparable period of 2007. Profit after tax stood at N365.25 million compared with N281.85 million in 2007.

GUINEA INSURANCE PLC: Unaudited result for the third quarter ended 30th September 2008 shows Gross Premium of N711.4 million, as against N202.21 million in the comparable period of 2007. Profit after tax stood at N180.02 million compared with N55.8 million in 2007.