MARKET CAPITALISATION HITS N8.8TN

By Providence Obuh
The upsurge in investors' fortunes on the Nigerian Stock Exchange (NSE) continued last week, as the key performance indices, the All share index (ASI)  closed the week on a positive note,  appreciating  by 1.53 per cent.

Specifically, the ASI surged by 417.23 bases points to close at 27,684.40 points from 27,267.17 points at which it opened the week.  Equities value represented by the market capitalisation soared by 1.57 per cent or 137.19 billion to close at N8.848 trillion from N8.711 trillion at which it opened .

MARKET TURNOVER
A turnover of 2.67 billion shares valued at N27.31 billion in 35,054 deals was recorded in the week under review,  in contrast to the previous week's turnover of 3.14 billion shares valued at N26.24 billion in 37,691 deals.

The Banking subsector was the most active on the sectorial analysis accounting for 78.65 per cent of the market with 2.1billion shares valued at N20.36 billion exchanged by investors in 20,854 deals. Volume in the Banking sub-sector was largely driven by activity in the shares of First Bank of Nigeria Plc trading 421.69 million shares valued at N6.63 billion in 3,950 deals,  Zenith Bank Plc followed with the exchange of 383.52 million shares valued at N6.14 billion in 2,051 deals and FinBank Plc recorded 200.7 million shares valued at N212.53 million in 1,159 deals.

The Insurance sub-sector followed on the week's activity chart with a turnover of 146 million shares valued at N119.47 million in 1,801 deals.   AllCO Insurance Company Plc recorded the highest activity in the sub-sector trading 24.52 million shares valued at N23.01 million in 961deals, Regency Alliance Insurance Company Plc followed with the exchange of 16.35 million shares valued at N8.17 million in seven deals and Lasaco Assurance Plc recorded 15.90 million shares valued at N7.95 million in 43 deals.

However, there were no transactions in the Federal Government Development Stocks, State Government Bonds and Industrial Loans/Preference Stocks sectors.

PRICE MOVEMENT
The NSE All-Share Index appreciated by 417.23 points or 1.53 per cent to close on Friday at 27,684.40 points while the market capitalization of the 201 First -Tier equities increased to N8.85 trillion. The NSE-30 Index appreciated by 17.55 points or 1.48 per cent  to close at 1,220.19. Last week, ASI and NSE-30 Index appreciated by 4.14 per cent and 4.8 per cent , respectively.

Three of the four sectorial indices appreciated during the week compared with four that so appreciated during the preceding week. The NSE Food/Beverage Index appreciated by 15.37 points or 1.87 per cent  to close at 836.13, the NSE Banking Index appreciated by 13.6 points or 3.02 per cent  to close at 462.67, the NSE Insurance Index appreciated by 3.18 points or 1.76 per cent to close at 184.61 while the NSE Oil/Gas Index depreciated by 6.17 points or 1.65 per cent  to close at 363.71.

TOP 10 GAINERS' AND LOSERS
Fifty-two stocks appreciated in price during the week, lower than the  64 of the preceding week. Guinness Nigeria Plc led on the gainers' table with a gain of N27.10 or 13.5 per cent to close at N227.18 per share, Unilever Nigeria Plc followed with a gain of N2.38 or 8.43 per cent  to close at N30.61 per share and Flour Mills Nigeria Plc appreciated by  2.08 or 2.74 per cent to close at N78.08 per share. Other share price gainers' include: African Petroleum Plc N1.76, Dangote Flour Mills Plc N1.49,  Dangote Cement Plc N1.48, Nestle Nigeria Plc N1.00, United Bank for Africa Plc 0.90 per share, First Bank of Nigeria Plc N0.72, Zenith Bank Plc 0.71, among others.

On the other hand, 41 stocks depreciated in price during the week, higher than the 25 of the previous week. Nigeria Breweries Plc led on the price losers' table, dropping by N5.43 or 5.94 per cent toclose at N86.00 per share, Oando Plc followed with a loss of N3.97 or 5.03 per cent to close at N75.00 per share and  Nigerian-German Chemicals Plc dropped by N1.25 or  9.68 per cent to close at N11.66 per share. Other share price losers  include:  UACN Property Development Company Plc N1.10, John Holt Plc N0.80, Larfarge WAPCO Plc N0.79, Beta Glass Company Plc N0.77, Aluminium Extrusion Industries Plc N0.61,  Ashaka Cement Plc N0.50, Stanbic IBTC Bank Plc N0.44, among others.

COMPANY FORECASTS
MULTI-TREX INTEGRATED FOODS PLC: The Company forecasts Turnover of N7,057.51 million and profit after tax of N180.38 million during the year ending April 30, 2011.

SCOA NIGERIA PLC: The Company forecasts Turnover of N504.53 million and profit after tax of N12.38 million during the first quarter ending March 31, 2011.

MAY & BAKER PLC: The Company forecasts Turnover of N1,330.98 million and profit after tax of N24.34 million during the first quarter ending March 31, 2011.

AIICO INSURANCE PLC: The Company forecasts Gross Premium of N3,228.09 million and profit before tax of N1,511.203 million during the first quarter ending March 31, 2011.

R.T. BRISCOE (NIGERIA) PLC: The Company forecasts Turnover of N4,244.09 million and profit after tax of N83.31 million during the first quarter ending March 31, 2011.