NSE admits FBN funds into DOL

fbn2The Nigerian Stock Exchange has admitted the FBN Money Market Fund into the memorandum quotations segment of its Daily Official List.

The NSE’s report for the week ended December 28, 2012, noted that a total of 17,984,400 units of the fund were admitted at N100 each at par.

According to the report, 1,752,200 units of N1, 000 at par of the FBN Fixed Income Fund were also admitted into the memorandum quotations segment of the DOL.

In the Over-the-Counter Bond market, a total of 113,423 million units, worth N126bn were recorded last week in 515 deals, compared to 98.989 billion units, valued at N107.73bn exchanged the preceding week, in 637 deals.

According to the report, a turnover of 571.077 million shares worth N5.246bn was recorded last week in 7,579 deals , compared to 1.293 billion shares valued at N13.725bn exchanged the preceding week in 20,499 deals.

The stock market opened for three days as Tuesday and Wednesday were declared public holidays to celebrate the Christmas and Boxing Day.

The financial services sector was the most active during the week, in terms of volume, as 387.860 million shares worth N3.163bn were exchanged by investors in 4,454 deals

Volume in the sector was largely driven by activity in the shares of United Bank for Africa Plc, Zenith Bank Plc, FBN Holdings Plc and First City Monument Bank Plc.

Trading in the shares of the four Banks accounted for 202.626 million shares, representing 52.24 per cent and 35.4 per cent of the sector turnover and total turnover traded during the week, respectively.

The Conglomerates sector, boosted by activity in the shares of Transnational Corporation of Nigeria Plc, followed on the week’s activity chart with a turnover of 94.154 million shares valued at N107.592m in 271 deals.

A review of the equity price movements indicated that 31 equities gained, while 21 equities recorded price declines and prices of 143 equities remained constant.

Guinness Nigeria Plc led 30 other stocks on the gainers’ chart, rising by 4.26 per cent or N11.12 to close at N272.12 per share.

Dangote Cement Plc followed, rising by five per cent or N6.10 to close at N128.10 per share, while Okonu Oil Palm Plc was up by N10.24 or N3.89 to close at N41.89 per share.

 

Source: Punch (written by Udeme Ekwere)

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