Market review for week ended January 26, 2007
January 29th, 2007 Ogbuotobo Chuks || chuks@stockmarketnigeria.com
By Ogbuotobo Chuks
The increasing trend in the market continued last week as the All Share Index rose by 0.9 percent to close at 35,896.31, while market turnover increased by 47 percent to close at 2.1 billion shares. This was worth N25.93 billion which was recorded in a total of 43,166 deals as against 1.43 billion shares valued at N26.53 billion, exchanged in 41,358 deals the previous week.
The market capitalization also recorded an increase from N4.813 trillion at the beginning of the week to N4.856 trillion at the end of the week under review.
The banking sector was the most active with a trading volume totaling 1.648 billion shares, Conglomerates totaling 163.7 million shares while Insurance was third with 61.4 million shares.
A total of 64 stocks appreciated in price as against 65 the previous week, while 33 stocks depreciated as against 26 stocks the previous week.
The price of United Bank for Africa (UBA) was adjusted for payment of dividend and a bonus of 1 for 5 as recommended by the directors of the bank. This reflected in the outstanding shares of the bank as a total of 1.4 billion shares were added to the outstanding shares due to the bonus issue.
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