OTC Bond market records N338bn transactions

The over-the-counter bond market of the Nigerian Stock Exchange (NSE), recorded a total of 299.14 million units worth N337.835 billion in 3,037 deals last week, the NSE report for the week ended February 5, 2009 has shown.

Prior to last week, the OTC market had recorded a total of 300.34 million units valued at N341.705 billion exchanged in 3,171 deals during the week ended Thursday, January 28, 2010. The most active bond, measured by volume, was the 5th FGN bond 2013 series 4 with a traded volume of 38.2 million units valued at N42.660 billion in 286 deals. It was closely followed by the 5th FGN bond 2018 Series 2 with a traded volume of 35.25 million units valued at N41.180 billion in 329 deals.
In the OTC, 22 of the available 38 FGN Bonds were traded last week, compared with the 23 in the preceding week.
Meanwhile, in the stock market, a total turnover of 2.73 billion shares worth N18.94 billion were traded in 36,457 deals, as against a total of 2.32 billion shares valued at N14.15 billion. The NSE All-Share Index appreciated by 2.8% to close on Friday at 23,226.280, up from the 22,594.90 it stood the preceding week. The total market capitalisation of the NSE's 200 first -tier equities closed higher at N5.594 trillion, up from N5.441 of the preceding week. The NSE-30 Index also improved by 3.35% to close at 921.14. Three of the four sectoral indices appreciated; the NSE Food/Beverages Index grew by 0.52% to close at 599.33 points, the NSE Banking Index appreciated by 4.5% to close at 391.11 points and the NSE Oil/Gas Index also rose by 0.24% to close at 299.04 points. But, the NSE Insurance Index dipped by 2.3% to close at 218.11 points.
In all, a total of 52 stocks appreciated in price last week, lower than the 58 of the preceding week.
Nestle Nigeria Plc, led on the gainers' table with a gain of N18.00 to close at N270.00 per share while African Petroleum Plc, followed with N2.97 to close at N39.37 per share.
On the flip side, 50 stocks depreciated in price last week, higher than the 33 of the preceding week.
Alumaco Plc, led on the price losers' table, dropping by N3.05 to close at N18.42per share while Conoil Plc, followed with a loss of N2.57 to close at N31.00 per share.
The banking sub-sector was the most active last week, measured by turnover with 1.4 billion shares worth N10.52 billion exchanged by investors in 19,851 deals. Volume in the Banking subsector was largely driven by activity in the shares of FinBank Plc, UBA Plc, Diamond Bank Plc, First Bank of Nigeria Plc and Fidelity Bank Plc.