Market review for week ended January 19, 2007
January 23rd, 2007 Ogbuotobo Chuks || chuks@stockmarketnigeria.com
By Ogbuotobo Chuks
As at the close of trading last week, it was apparent and clear for all to see that the Nigerian market is fast becoming a potential source for creating wealth. Their market ended on a good note as the Bulls were very active all through.
A total of 1.43 billion shares were traded in a record 41,358 deals. This is in contrast to the 1.25 billion shares traded in 33,670 deals the previous week. The All Share Index, which measures the rate of price movement of quoted companies on the exchange increased by 3.52 percent to close at 35,580.92, while the market capitalization closed at N4.81 trillion.
As expected, the banking sub sector was the most active throughout the week, followed by the conglomerates sub sector and the building materials sub sector respectively.
A total of 65 stocks appreciated in price, as against 57 in the preceding week, while 26 stocks depreciated as against 25 the previous week.
The price of Oceanic bank was adjusted for dividend payment of 42 kobo and a bonus of 1 for 4 as recommended by the company’s board of Directors.
Top gainers for the week were Cadbury (+N9.16), UBA (+N7.44), Nestle (+N7.00), WAPCO (+N6.38) and First Bank (+N5.09). On the losers side was Total (-N11.01), ETI (-N9.55), Oceanic Bank (-N2.07) and Guiness (-N1.28)
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