The Stock Market - 010609



Posted Monday, June 01, 2009


The Market prices moved upward as indicated by the closing position of the All Share Index which went up by 3.52 % to close at 30,745.74, as against last week Friday’s 29,700.24 base points.



A total of 5710 deals involving a share volume of 389.52 million units valued at N 3.79 billion was traded today, as against last week Friday’s 6,895 deals involving a volume of 435.58 million unit shares valued at N 4.29 billion.
The Banking Sector was the most active with 193.77 million shares traded in 2,791 transactions worth over 2.68 billion. The volume was largely driven by the activities in the share of UBA with 49.80 million units in 499 deals valued at N837.74 million, while Access Bank followed with 43.13 million units in 295 deals valued at N 457.96 million.


The Insurance sector emerged second with 69.49 million shares exchanged in 405 deals worth over N 67.83 million. The highest volume was traded in the shares of Mutual Benefit with 21.97 million shares was traded in 11 deals valued at N28.12 million.


The market breadth was positive and at the close of trading today the number of stocks which moved up is 91 and the number of stocks decline is 16 and 34 stocks remained unchanged.








Eterna Oil declared its first quarter result for the period ending March 31, 2008. Turnover increased by 42.19 % to =N=1.81 bln from =N= 1.27 bln while PAT decreased by 1518% to a loss of =N=223.05 mln from =N=15.73 mln in the comparable period. NPM has been reduced to -12.3% from 1.23%.

The Stock Exchange has marked down the prices of the Multiverse, beta glass and Continental Reinsurance for N0.04k, N0.30k and N0.05k respectively. 


(Proshare Analyst)


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