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Investors stake N20.9b on FGN bonds in five days

By on April 15, 2013

• UBA, Zenith, GTB enhance financial sector’s stock profile

THE Over-The-Counter (OTC) market for FGN bonds, last week, recorded a turnover of 1.928 billion shares worth N20.990 billion in 28,832 deals in contrast to a total of 2.280 billion shares valued at N24.633 billion, exchanged in 28,170 deals in the preceding week.

Specifically, 2,536 units of FGN bonds valued at N3.096 million traded during the week in 26 deals in contrast to 1,887 units valued at N2.314 million traded in 20 deals in the preceding week. Also, 1,000 units of Lagos State Fixed Rate Redeemable Bond valued at N1, 000,000 was traded in one deal. There were no transactions in the Corporate Bonds/Debentures sector.

On the activity chart, the financial services sector accounted for 1.510 billion shares valued at N13.532 billion traded in 17,688 deals.

The banking subsector was the most active during the week in volume terms with 1.074 billion shares worth N11.229 billion exchanged in 11,333 deals.

Volume in the banking subsector was largely driven by activity in the shares of United Bank for Africa, Zenith Bank and Guaranty Trust Bank, as trading in the shares of the three banks accounted for 464.928 million shares, which represent 43.28 per cent, 30.79 per cent and 24.12 per cent of the turnover recorded by the subsector, sector and total equity turnover for the week, respectively.

The conglomerates sub-sector was boosted by activity in the shares of Transnational Corporation with a turnover of 121.134 million shares valued at N299.812 billion traded in 1,210 deals.

846 units of New Gold Exchange Traded Funds (ETFs) valued at N2.035 million was traded in seven deals last week, compared with a total of 2,681 units valued at N6.562 transacted in eight deals in the preceding week.

The NSE All-Share Index depreciated by 334.09 points or 1.0 per cent to close on Friday at 32,849.11 while the market capitalisation depreciated from N10.618 trillion to N10.512 trillion.

Also, the Bloomberg NSE 30 Index depreciated by 12.80 points or 0.81per cent to close at 1,572.76.

Three of the sectoral indices appreciated during the week compared to two during the preceding week.

The Bloomberg NSE Banking Index appreciated by 2.58 points or 0.63 per cent to close at 414.67. The Bloomberg NSE Insurance appreciated by 4.56 points or 3.07 per cent to close at 152.86. Also, the Bloomberg NSE Oil/Gas appreciated by 3.81 points or 1.99 per cent to close at 194.94.

However, The Bloomberg NSE Consumer Goods Index depreciated by 14.64 points or 1.5 per cent to close at 954.49 while the NSE Lotus II depreciated by 54.61 points or 2.5percent to close at 2,090.74.

A review of the equity price movements indicated that 36 equities gained while 44 equities recorded price declines and one hundred and 117 equities remained constant.

When compared with the preceding week, 38 equities gained while 46 equities recorded price declines and 100 and 113 equities remained constant.


( Guardian)