OTC records N207.9b turnover
By Helen Oji
TRADING at the Over-the Counter Bond last week recorded a downturn, as a turnover of 203.43 million units, valued at N207.9 billion was done in 1,519 deals. This is in contrast with 255.8 million units, valued at N259.25 billion exchanged in 1,706 deals in the preceding week.
The 4th Federal Government Bond 2014 series three was most active in volume terms with N35.61 million units worth N37.11 billion, done in 348 deals, while the 4th Federal Government Bond 2012 series 10 followed with 24.7 million units, valued at N24.6 billion in 172 deals.
Also, transaction on the floor of the Nigerian Stock Exchange (NSE) witnessed a decline last week, as a turnover of 1.8 billion shares, worth N13.56 billion was recorded in 44,762 deals, down from 2.41 billion units, valued at N21 billion exchanged in 51,198 deals in the preceding week.
According to the report, the banking sub-sector dominated in volume terms last week with 1.12 billion shares, valued at N10.46 billion in 27,393 deals, while the insurance sub-sector followed with a turnover of 347 million shares worth N545.83 million, exchanged in 3,988 deals by investors.
A breakdown of activities in the banking sub-sector last week showed that the sub-sector was strengthened by activity in the shares of Spring Bank Plc, First City Monument Bank Plc (FCMB) and Diamond Bank Plc, as trading in the shares of the three banks accounted for 468.92 million shares, which according to NSE represents 41.8 per cent of the sub-sector's turnover.
The insurance sub-sector was energised by activity in the shares of investment and Allied Insurance Plc.
Meanwhile corporate performance indices, the All-share index of HSE dipped by 2187.7 points or 6.6 per cent, from 35,213.45 recorded at the first trading day of the month to 33,025.75 on Friday, while market capitalisation fell by N420 billion or 5.7 per cent, from N7, 725 trillion to N7, 35 trillion.
On the price movement chart, eighteen stocks appreciated in price last week, up from 17 in the preceding week. Constain West African Plc emerged the week's highest price gainer, adding 168 kobo to close at N15.68 per share, while Lafarge West African Portland Cement Company Plc followed, adding 86 kobo to close at N26.00 per share.
First Inland Bank Plc, GlaxoSmithKline Consumer Plc, United Bank for Africa Plc (UBA), Oceanic Bank International Plc, Stanbic IBTC Bank Plc, May & Baker Nigeria Plc, Guinness Nigeria Plc and Guaranty Trust Bank Plc also added 83 kobo, 83 kobo, 76 kobo, 66 kobo, 55 kobo, 45 kobo, 7 kobo and 37 kobo.
However, eighty-one stocks depreciated in price last week, down from 83 recorded in the preceding week with Oando Nigeria Plc leading others on the loser's table, dropping 1,796 kobo, to close at N78.99 per share, while Total Nigeria Plc followed, shedding 1,587 kobo, to close at N225.695 per share.
Other losers of last weeks transaction includes Flourmills of Nigeria Plc, Nigerian Bottling Company Plc, PZ Cussons Nigeria Plc, Benue Cement Company Plc, Zenith Bank International Plc, Ashaka Cement Company Plc, Afribank Nigeria Plc and Northern Nigeria Flourmills Plc, Shedding 420 kobo, 388 kobo, 385 kobo, 370 kobo, 327 kobo, 274 kobo, 271 kobo and 259 kobo.