Turnover Of N103.8b In 1 Week Transaction On FGN Bonds

Investors last week who made transactions on the Over-The-Counter  (OTC) market for FGN  Bonds, recorded a  turnover of 124.96 million units worth N103.9 billion in 895 deals, compared to 75.16 million units valued at N62.9 billion, exchanged in 605 deals during the week ended Thursday, November 10, 2011.

At the end of transactions for the week, the most active bond when measured by turnover volume was the 10 per cent FGN Bond 2030 (seventh FGN Bond July 2030 Series 3) with a traded volume of 39 million units valued at N30.3 billion in 385 deals.

This was followed by the four per cent FGN April 2015 (seventh FGN BOND 2015 Series 2) with a traded volume of 29.3 million units valued at N21.5 billion in 182 deals.

According to information obtained from the Nigerian Stock Exchange (NSE), 14 of the available 27 FGN Bonds were last week compared with six that were traded during the preceding week.

Though there were no transactions executed through the stock market in the Federal Government Development Stocks, State Government Bonds and industrial loans/preference stocks sectors, the equities sector recorded a turnover of 1.25 billion shares worth N10.344 billion in 17,992 deals.

The Banking subsector was the most active when measured by turnover volume with 839.22 million shares worth N5.6 billion exchanged by investors in 9,309 deals.

Volume in the Banking sector was lifted by activity in the shares of United Bank for Africa (UBA) Plc, Zenith Bank Plc, Guaranty Trust Bank Plc and Wema Bank Plc.

Trading in the shares of the four banks accounted for 611.3 million shares, representing 72.8 per cent  and 48.73 per cent  of the sector’s turnover and total volume traded during the week, respectively.

The Insurance subsector of the Financial Services sector, boosted by activity in the shares of Guaranty Trust Assurance Plc and NEM Insurance Co. Plc, followed on the week’s activity chart with a sector turnover of 151 million shares valued at N123.54 million traded in 729 deals.

On the price movement chart, the NSE All-Share Index depreciated by 104.59 points or 0.5 per cent to close on Friday at 20,311.51 while the market capitalisation of the 186 First -Tier equities declined to N6.4 trillion.

Three of the four sectorial indices depreciated last week compared with two that so depreciated during the previous week.

The NSE Oil/Gas Index appreciated by 2.18 points or 0.9 per cent to close at 242.27. The NSE Food/Beverage Index depreciated by 42.85 points or 7.0 per cent to close at 569.10. The NSE Bank Index depreciated by 3.19 points or 1.1 per cent to close at 287.78 and the NSE Insurance Index depreciated by 2.65 points or 1.7 per cent to close at 150.40.However, 20 equities appreciated in price, higher than the 70 of the preceding week.

Two equities in the Consumer Goods sector led on the top gainers’ table. Nestle Nigeria Plc led on the gainers’ table with a gain of N4.00 or 1.0 per cent to close at N405.00 per share while Flour Mills of Nigeria Plc followed with a gain of N2.00 or 3.3 per cent  to close at N62.00 per share