A Review of the Nigerian Energy Industry

Investors sustain interest in stocks, equities value up 1.14%

Nigerian Stock Exchange 103 June 2013, Lagos – Activities on the Nigerian Stock Exchange, NSE, maintained an upward movement last week with appreciable improvement in all the primary indicators, including the market capitalization, All Share index, ASI.

The sustained interest in the market saw the NSE’s market capitalisation crossing the N12 trillion marks, while the ASI broke into 38,000 points, development analysts attributed to improved bargain appetite with significant decline in price volatility.

Specifically, the market capitalisation of all listed equities rose by 1.14 percent to N12.075 trillion from N11.939 trillion the previous week, while the all share index rose by 1.19 percent to 37,794.75 points from 37,350.53 points.

Also, the NSE 30 Index appreciated by 1.05 percent to close at 1,809.91. All except one of the NSE sectoral indices appreciated same as the preceding week: NSE Consumer Goods, NSE Banking, NSE Insurance Index, NSE Oil/Gas, NSE-Lotus II and NSE Industrial Goods Indices advanced by 0.66 percent, 0.19 percent, 1.17 percent, 0.58 percent, 0.62 percent, and 1.68 percent. However, NSE-ASeM Index depreciated by 0.95 percent.

40 equities appreciated in prices during the week led by Nestle Nigeria plc with price increase of N13.21 to close at N1,001.10 from N987.80 per share, followed by Dangote Cement with price gain of N6.50 to close at N191.00 from N184.50 per share.

Other top five gainers include Nigeria Breweries, which gained N5.77 to close at N177.90 per share. Unilever added N3.54 to close at N68.00, while FlourMills Nigeria plc went up by N2.65 to close at N88.40 per share.

On the other hand, 36 stocks depreciated in prices lower than 46 of the preceding week led by CAP with price loss of N17.51 to close at N45.00 per share from N62.51.

UACN followed, dropping by N12.50 to close at N58.00 from N70.50.

Others are Cadbury, which lost N9.04; Sim Capital Alliance Value Fund N7.59 and Total that went down by N5.90.

A turnover of 1.503 billion shares worth of N14.109 billion in 24,007 deals were traded by investors in contrast to a total of 2.120 billion shares valued at N25.676 billion that exchanged hands last week in 31,806 deals.

The Financial Services sector (measured by volume) led the activity chart with a turnover of 1.070 billion shares valued at N7.844 billion traded in 12,406 deals. The Financial Services sector represented 71.65 percent and 55.60 percent of the total traded volume and value respectively.

The Banking sub-sector of the Financial Services sector boosted by activity in the shares of Unity Bank Plc and U B A Plc was the most active sub-sector on the week’s activity chart with sub-sector turnover of 811.929 million shares valued at N6.059 billion exchanged hands by investors in 8,834 deals. Also, the Banking sub-sector accounted for 54.02 percent and 42.95 percent of the total sub-sector traded volume and value respectively.
*Nkiruka Nnorom, Vanguard

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