TRANSACTIONS on the floor of the Nigerian Stock Exchange (NSE) was on the up beat yesterday as 881.7 million shares valued at N9.6 billion changed hands, up from 484.7 million shares worth N6.6 billion on Tuesday
The indices of corporate performance also surged as the market capitalisation closed higher at N6.782 trillion while the All-share index closed at 47,262.30 points from 47,067.34 points yesterday.
The banking sub-sector was the most active in volume terms with 535.09 million shares valued at N6.8 billion.
It was followed by the insurance sub-sector with 136.3 million shares valued at N450.4 million while the food beverages and tobacco sub-sector took the third position with 14.4 million shares worth N687.5 million.
The banking sub-sector was buoyed by 311.2 million First City Monument Bank Plc's shares valued at N3.2 billion, while 76.4 million Standard Alliance Insurance shares and 10.6 million Dangote Sugar Refinery Plc shares valued at N238.3 million and N560.2 million, respectively enhanced the volume in the Insurance and Food Beverages and Tobacco sub-sectors.
Ecobank Transnational Incorporated led the bulls with 800 kobo appreciation to close at N173.00 per share, followed by Chevron Oil Nigeria Plc and Mobil Oil Nigeria Plc with 720 kobo and 614 kobo to close at N171.00 and N170.00.
Nigerian Aviation Handling Company Plc, Zenith Bank Plc and Conoil Nigeria Plc also gained 288 kobo, 235 kobo and 190 kobo to close at N60.55, N49.38 and N73.00 while Union Bank Nigeria Plc, Cement Company of Northern Nigerian Plc and RT Briscoe completed the top gainers' with 160 kobo, 145 kobo and 135 kobo to close at N34.60, N30.45 and N30.45 per share.
On the other hand, Nestle Nigeria Plc emerged the leader on the losers' chart with 1100 kobo loss to close at N229.00 per share.
Guinness Nigeria Plc, Dangote Sugar Refinery Plc, Ashaka Cement Company Plc and UACN Plc followed with 651 kobo, 278 kobo, 247 kobo and 170 kobo to close at N128.99, N52.82, N75.51 and N33.50.
Other losers' include Northern Nigerian Flour Mills Plc, UAC-Property Development Plc and West African Portland Company Plc with 154 kobo, 145 kobo and 139 kobo to close at N29.34, N27.55 and N65.50, respectively.
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Thursday, April 26, 2007
NSE index surpasses 2006 record
The stock market recorded another milestone on Tuesday as the Nigerian Stock Exchange All-Share Index hit a high 47,262.30, while the market capitalisation closed at N6.782bn.
Unprecedented price rallies by equities led to the new index, which was 42.4 per cent above this year’s opening level of 33,189.30.
Notably, the growth so far is higher than the 38 per cent recorded throughout 2006.
Market operators have predicted further rise in the market gauge, saying that expected improved corporate results from companies, inflow of more funds from pension fund administrators and foreign investors will sustain the bullish tempo of the market.
The market performance on Tuesday, was better than Monday’s as investors traded 811.69million shares worth N9.58bn in 11,557 deals, up from 484.7million shares valued N6.64billion transacted in 11,196 deals on Monday.
However, the banking sub-sector maintained its lead on the activity chart, accounting for over 66 per cent of the market turnover. Investors traded 535.09million shares worth N6.841bn in 6,311 deals.
The Insurance sector ranked second, recording 17 per cent of the total market, amounting to 134.28million shares valued at N450.39m exchanged in 819 deals.
Meanwhile, Ecobank Trans-national Incorporated led the price gainers with N8 to close at N173 per share, while Chevron Oil Nigeria Plc followed with N7.20 to close at N171 per share.
Meanwhile, Unilever Nigeria Plc on Tuesday announced a profit in the first quarter ended March 31, 2007 after a loss in 2007. Net profit stood at N300m as against a loss of N980m in the corresponding period of 2006.
The shares rose by N0.65 or 3.6 per cent to N17.95 per share.
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Unprecedented price rallies by equities led to the new index, which was 42.4 per cent above this year’s opening level of 33,189.30.
Notably, the growth so far is higher than the 38 per cent recorded throughout 2006.
Market operators have predicted further rise in the market gauge, saying that expected improved corporate results from companies, inflow of more funds from pension fund administrators and foreign investors will sustain the bullish tempo of the market.
The market performance on Tuesday, was better than Monday’s as investors traded 811.69million shares worth N9.58bn in 11,557 deals, up from 484.7million shares valued N6.64billion transacted in 11,196 deals on Monday.
However, the banking sub-sector maintained its lead on the activity chart, accounting for over 66 per cent of the market turnover. Investors traded 535.09million shares worth N6.841bn in 6,311 deals.
The Insurance sector ranked second, recording 17 per cent of the total market, amounting to 134.28million shares valued at N450.39m exchanged in 819 deals.
Meanwhile, Ecobank Trans-national Incorporated led the price gainers with N8 to close at N173 per share, while Chevron Oil Nigeria Plc followed with N7.20 to close at N171 per share.
Meanwhile, Unilever Nigeria Plc on Tuesday announced a profit in the first quarter ended March 31, 2007 after a loss in 2007. Net profit stood at N300m as against a loss of N980m in the corresponding period of 2006.
The shares rose by N0.65 or 3.6 per cent to N17.95 per share.
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Wednesday, April 25, 2007
Investors scramble for Oceanic Bank offer
As Oceanic Bank International Plc offer closes tomorrow the bank’s branches across Lagos State and all the stock participating broking outfits have been besieged by investors who are scrambling to get the shares. Daily Sun investigations reaveles that the last minute rush was as a result of anxiety over anticipated post-election violence and other sundry reasons.
According to one of the investors, Martins Ayodele “I had to wait till the last minute before investing because I kept the money for eventualities that may follow the last weekend elections and since as at today there was none, I decided to put the money to good use.”
Another investor, Bukola Amusu, said she had to borrow the money to invest from his cooperative society, and the cooperative could not give her the money until yesterday, a day to the end of the offer and that is the reason she is part of the late investors.
While another who simply called herself Franca, a marketer said, “Investment in shares is a costly decision and it took me this long to make up my mind to buy into the offer, don’t see anything bad in investing close to the end of the offer. The important thing is that I invested while the offer lasted.”
It will be recalled that the offer was extended by a week, which means it will effectively close tomorrow as against the earlier April 13, date. The extension was attributable to the spate of public holidays during the offer.
Feelers from the bank, however, suggest that investors have overwhelmingly received the offer, with analysts speculating an over subscription.
Chief Executive of Amyn Investments Limited, Mrs Hauwah Audu, attributed investors’ high interest in the offer to the bank’s high rate of returns.
She expressed satisfaction on the patronage level so far, noting that the offer is on the threshold of being grossly over subscribed.
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According to one of the investors, Martins Ayodele “I had to wait till the last minute before investing because I kept the money for eventualities that may follow the last weekend elections and since as at today there was none, I decided to put the money to good use.”
Another investor, Bukola Amusu, said she had to borrow the money to invest from his cooperative society, and the cooperative could not give her the money until yesterday, a day to the end of the offer and that is the reason she is part of the late investors.
While another who simply called herself Franca, a marketer said, “Investment in shares is a costly decision and it took me this long to make up my mind to buy into the offer, don’t see anything bad in investing close to the end of the offer. The important thing is that I invested while the offer lasted.”
It will be recalled that the offer was extended by a week, which means it will effectively close tomorrow as against the earlier April 13, date. The extension was attributable to the spate of public holidays during the offer.
Feelers from the bank, however, suggest that investors have overwhelmingly received the offer, with analysts speculating an over subscription.
Chief Executive of Amyn Investments Limited, Mrs Hauwah Audu, attributed investors’ high interest in the offer to the bank’s high rate of returns.
She expressed satisfaction on the patronage level so far, noting that the offer is on the threshold of being grossly over subscribed.
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Tuesday, April 24, 2007
Blue chip stocks surge indices on the Exchange
NIGERIAN Stock Exchange's All-share index rose further last week following major price gains by highly capitalised companies in the banking, insurance and food beverages and tobacco sub-sectors.
The market opened for four days, as Friday was declared work-free day by the Federal Government.
Specifically, the index appreciated by 2.6 per cent to close on Thursday at a record 47,093.27 points, while market capitalisation closed higher at N6.8 trillion.
The development was due to price gains by Guinness Nigeria Plc, which gained 2,199 kobo to close at N142.00 per share, while Nigerian Aviation Handling Company Plc followed at N54.93 per share.
Dangote Sugar Refinery Plc, UACN Property Development Company Plc, Zenith Bank Plc, National Salt Company Plc, African Petroleum Plc and Nigerian-German Chemicals Plc amongst others also gained 920 kobo, 494 kobo, 480 kobo, 294 kobo, 249 kobo and 227 kobo respectively.
On the other hand, Nestle Nigeria Plc led the price losers, down by 6,300 kobo to close at N235.00, while Ecobank Transnational Incorporated Plc also lost 1,500 kobo to close at N170.00 per share.
Oando Plc, Mobil Oil Nigeria Plc, Chevron Oil Nigeria Plc, Union Bank Nigeria Plc, UACN Plc, Conoil Plc, Nigerian Breweries Plc and Beta Glass Company Plc also lost 754 kobo, 449 kobo, 400 kobo, 389 kobo, 314 kobo, 300 kobo, 254 kobo and 237 kobo per share.
In all, 3.31 billion shares worth N46.35 billion changed hands last week, up from 1.4 billion shares valued at N18.3 billion exchanged the previous week.
There were no transactions in Federal Government Development Stocks, State Government Bonds and Industrial Loan/Preference Stocks sectors.
Transactions was highest in the banking sub-sector last week with 1.9 billion shares worth N30.44 billion exchanged in 23,849 deals.
Further review of the banking sub-sector indicated that the volume was buoyed by activity in the shares of Afribank Nigeria Plc, Fidelity Bank Plc, Intercontinental Bank Plc and Wema Bank Plc.
Trading in the shares of the four banks accounted for 929.11 million shares, representing 49.2 per cent of the sub-sector turnover.
The Insurance sub-sector was boosted by activity in the shares of Cornerstone Insurance Plc with a turnover of 659.3 million shares valued at N1.84 billion.
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The market opened for four days, as Friday was declared work-free day by the Federal Government.
Specifically, the index appreciated by 2.6 per cent to close on Thursday at a record 47,093.27 points, while market capitalisation closed higher at N6.8 trillion.
The development was due to price gains by Guinness Nigeria Plc, which gained 2,199 kobo to close at N142.00 per share, while Nigerian Aviation Handling Company Plc followed at N54.93 per share.
Dangote Sugar Refinery Plc, UACN Property Development Company Plc, Zenith Bank Plc, National Salt Company Plc, African Petroleum Plc and Nigerian-German Chemicals Plc amongst others also gained 920 kobo, 494 kobo, 480 kobo, 294 kobo, 249 kobo and 227 kobo respectively.
On the other hand, Nestle Nigeria Plc led the price losers, down by 6,300 kobo to close at N235.00, while Ecobank Transnational Incorporated Plc also lost 1,500 kobo to close at N170.00 per share.
Oando Plc, Mobil Oil Nigeria Plc, Chevron Oil Nigeria Plc, Union Bank Nigeria Plc, UACN Plc, Conoil Plc, Nigerian Breweries Plc and Beta Glass Company Plc also lost 754 kobo, 449 kobo, 400 kobo, 389 kobo, 314 kobo, 300 kobo, 254 kobo and 237 kobo per share.
In all, 3.31 billion shares worth N46.35 billion changed hands last week, up from 1.4 billion shares valued at N18.3 billion exchanged the previous week.
There were no transactions in Federal Government Development Stocks, State Government Bonds and Industrial Loan/Preference Stocks sectors.
Transactions was highest in the banking sub-sector last week with 1.9 billion shares worth N30.44 billion exchanged in 23,849 deals.
Further review of the banking sub-sector indicated that the volume was buoyed by activity in the shares of Afribank Nigeria Plc, Fidelity Bank Plc, Intercontinental Bank Plc and Wema Bank Plc.
Trading in the shares of the four banks accounted for 929.11 million shares, representing 49.2 per cent of the sub-sector turnover.
The Insurance sub-sector was boosted by activity in the shares of Cornerstone Insurance Plc with a turnover of 659.3 million shares valued at N1.84 billion.
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Friday, April 20, 2007
Wema Bank maintains growth in volume of transaction
The transactions of Wema Bank lately have shown that the bank is poised at making the difference in terms of returns on shareholders’ investments.
MADUKA NWEKE
The share price of the bank, which is rising has given reasons why the investors should smile with huge returns on investment.
As at April 11, 2007, the share price rose to N13.89, while pulling a total of 83,713,768-million shares worth N522.196-million exchanged in 703 deals.
The bank was recently appointed by Lagos State as one of the participating banks for its proposed scheme of payment of staff salary on-line.
David Adeagbo, head, corporate communications, said the appointment further attested to the operational efficiency of the bank in handling public sector accounts.
"Wema Bank, which is one of the five leading banks in the industry that set up Inter-switch Limited, has taken necessary steps to ensure a hitch free take off of the scheme scheduled for the end of this month."
He added that the bank was in a vantage position to make use of inter-switch facilities in addition to its newly acquired SUN FIRE E25K server and well-motivated workforce to render prompt on-line service to account holders.
Adeagbo also affirmed that the bank had put in place state-of-the-art facilities and up-to-date information technology to ensure that effective and efficient service were rendered to Lagos State public service workers.
He therefore urged workers in the Lagos State civil service to open accounts at any of its branches in the state for on-line payment of their salaries, pointing out that help (specially designated) desks had been set up to render effective services to them at all times.
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MADUKA NWEKE
The share price of the bank, which is rising has given reasons why the investors should smile with huge returns on investment.
As at April 11, 2007, the share price rose to N13.89, while pulling a total of 83,713,768-million shares worth N522.196-million exchanged in 703 deals.
The bank was recently appointed by Lagos State as one of the participating banks for its proposed scheme of payment of staff salary on-line.
David Adeagbo, head, corporate communications, said the appointment further attested to the operational efficiency of the bank in handling public sector accounts.
"Wema Bank, which is one of the five leading banks in the industry that set up Inter-switch Limited, has taken necessary steps to ensure a hitch free take off of the scheme scheduled for the end of this month."
He added that the bank was in a vantage position to make use of inter-switch facilities in addition to its newly acquired SUN FIRE E25K server and well-motivated workforce to render prompt on-line service to account holders.
Adeagbo also affirmed that the bank had put in place state-of-the-art facilities and up-to-date information technology to ensure that effective and efficient service were rendered to Lagos State public service workers.
He therefore urged workers in the Lagos State civil service to open accounts at any of its branches in the state for on-line payment of their salaries, pointing out that help (specially designated) desks had been set up to render effective services to them at all times.
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Afribank shareholders expectant, receive visa application aids
As the share price of Afribank rises to N11.51, investors in the bank are optimistic that the coming public offer in a forthnight will be good news as per dividends or bonus issue for shareholders.
MADUKA NWEKE
The public offer is coming at a time when the branch network of the bank has hit the 250 mark as a result of its merger with Assurance Bank. Afribank is improving service by introducing help lines that make payment easy for prospective applicants for passport and visa under the electronic payments of the Nigeria Immigration Service (NIS).
The help lines were set up to complement the electronic payments system recently introduced by the NIS for its services.
This facility enables visa and passport applicants to have on-line access to Afribank visa and passport desks and facilitate their bookings. Prospective applicants (fresh or renewal) can make enquiries through the help lines available 24/7.
Management of the bank says the help lines became necessary to save time for visa and passport applicants; to promote personal and convenient banking, customer relationship management and total quality service. Visa and passport applicants are encouraged to direct their enquiries to the help lines.
"We assure them of prompt response, privacy and open seven days a week," the bank adds.
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MADUKA NWEKE
The public offer is coming at a time when the branch network of the bank has hit the 250 mark as a result of its merger with Assurance Bank. Afribank is improving service by introducing help lines that make payment easy for prospective applicants for passport and visa under the electronic payments of the Nigeria Immigration Service (NIS).
The help lines were set up to complement the electronic payments system recently introduced by the NIS for its services.
This facility enables visa and passport applicants to have on-line access to Afribank visa and passport desks and facilitate their bookings. Prospective applicants (fresh or renewal) can make enquiries through the help lines available 24/7.
Management of the bank says the help lines became necessary to save time for visa and passport applicants; to promote personal and convenient banking, customer relationship management and total quality service. Visa and passport applicants are encouraged to direct their enquiries to the help lines.
"We assure them of prompt response, privacy and open seven days a week," the bank adds.
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Tuesday, April 17, 2007
Dangote Sugar Refinery commences export in 2008
By Ogbuotobo Chuks
With few weeks after being listed on the Nigerian stock market, paying shareholders a dividend of N1.15 as against the N1.00 it stated in its IPO and acheiving a capital appreciation of over 100 percent in 3 weeks, the management of Dangote Sugar Refinery has concluded plans to commence exportation of sugar in 2008.
The chairman of the company disclosed this at the 1st Annual eneral Meeting(AGM) of the company in Lagos. He also affirmed that the daily production which currently stands at 4,000 tonnes would be increased to 7,500 tonnes to meet customers demand.
In a show of sound management principles, the chairman also said that the company would commence payment of quaterly dividends beginning in April 2006. Consequently, two dividends will be paid in the month of April 2007.
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Monday, April 16, 2007
Nairakobo forum (a newly nigeria investment forum)
Hello everybody, I discovered a lot of Nigerian home and abroad are willing to invest in Nigeria most especially in stocks, but they are lack of right information on how to go about it. Most of my friends in USA always asked me so many question about investment in Nigeria.
Some would asked me where do i buy the shares from, some would asked how much is my gain on one unit, some would ask you how much is the stock self, some would ask you which company is the best to buy from and some would tell you they cant use their money to buy shares, why this, because they are lack of right information.
This is why nairakobo forum was launched. This forum was opened for the public to be fully aware of the Nigeria Stock Market, Business Mnagement, Finding Investment Capital, Business Ideas and Personal Finance Planning.
This forum is to intimate the public with grass root Investment opportunities.
I'm now announcing to all Nigerian home and abroad, who are willing to invest in companies shares and business to quickly join nairakobo forum to become member and started posting thread today. The registration is free. my own username is Babatunde
nairakobo forum is an investor's friend.
Once again, you are welcome to nairakobo forum
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Some would asked me where do i buy the shares from, some would asked how much is my gain on one unit, some would ask you how much is the stock self, some would ask you which company is the best to buy from and some would tell you they cant use their money to buy shares, why this, because they are lack of right information.
This is why nairakobo forum was launched. This forum was opened for the public to be fully aware of the Nigeria Stock Market, Business Mnagement, Finding Investment Capital, Business Ideas and Personal Finance Planning.
This forum is to intimate the public with grass root Investment opportunities.
I'm now announcing to all Nigerian home and abroad, who are willing to invest in companies shares and business to quickly join nairakobo forum to become member and started posting thread today. The registration is free. my own username is Babatunde
nairakobo forum is an investor's friend.
Once again, you are welcome to nairakobo forum
see you there.....
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