Meristems Weekly Report for May 30th
Meristem’s Market Sentiments for the week ended May 30th:
Market Declines by 2.71% Despite a 4 Day Trading Week
The stock market continued in its bearish mood all through the 4-day trading week. On the aggregate, The NSE All Share Index (ASI) dipped by 2.71% to close the week at 58,929.02 points while the total market capitalization of the 220 listed equities plunged by 2.64% to stand at N11.61 trillion. This divergence in the NSE ASI return and the percentage change in market capitalization was accounted for the new listing of 4.85 billion shares in favour of REGALINS Plc.In the same vein, a cumulative total of 4.5 billion shares valued at N44.5 billion were exchanged by investors in 67,458 deals in contrast to last week’s trading statistics of 4.43 billion shares worth N55.31 billion traded in 90,400 deals.
Petroleum Sector Leads in the Week’s Advancers’ Chart
37 stocks appreciated in price this week, higher than the 27 observed last weekend. The petroleum sector topped the advancers chart with OANDO and TOTAL appreciating by N18.81k to close N208.80k and N11.02k closing at N238.98k in that order. However, the losers declined from 92 recorded previous week to 82. CONOIL and MOBIL led the losers’ camp sheddingN14.15k and N10.50k.Insurance Sector Maintains Strong Dominance
Strong market dominance was maintained by insurance sector to emerge as the most active during the week (measured in terms of turnover), with 3.3bn shares (representing 73% of the aggregate market turnover) worth N8.05bn exchanged by investors in 12,536 deals. Activities in the sector were propelled by high trading in the shares of Investment and Allied Insurance Plc. Trading in the shares of the company captured 85% of the sector’s turnover. The banking sector trailed behind on the week’s activity table with 875 million shares exchanged in 33,667 deals valued at N29.25. Activities in the shares of companies in the Conglomerates sector claimed the third position on the table with 66 million shares traded in 1,855 deals. (Full Update)CORPORATE NEWS:
ARBICO, JAPAULOIL, WAPIC and Others Post Performance Results
CONTINENTAL REINSURANCE PLC, NIGERIAN BREWERIES PLC, JAPAULOIL PLC, TRIPPLEG PLC, INTERCONTINENTAL WAPIC PLC, ARBICO PLC, JULI PLC, NIGERIAN ROPES PLC, TOTAL PLC, MUTUAL BENEFIT ASSURANCE PLC, IKEJA HOTEL PLC and VITAFOAM PLC all posted their results during the trading week. (Full Update)REGENCY ALLIANCE INSURANEC PLC Joins the Daily Official List (DOL)
REGENCY ALLIANCE INSURANEC PLC (REGALINS Plc) during the week joined the DOL of the Nigerian Stock Exchange by way of introduction with 4.85 billion ordinary shares of 50kobo each at N1.75k. The trading symbol is REGALINS Plc.Eternaoil Plc Share Price Adjusted
The share price of ETERNALOIL PLC was marked down for scrip issues of 1 for 5 today. The ex-scrip price is N29.16k.TRANSNATIONWIDE EXPRESS PLC set to raise Fresh Funds
The share price of TRANSEXPR Plc was placed on technical suspension following receipt of application to embark on new issues.
Tags: marketreport
News, business | 
donne4real | May 30, 2008