Indicator This week Last Week W-o-W(%) YTD(%) LTM(%)
NSE ASI 35,381.02 33,216.31 6.52 -14.39 -6.33
NSE Banking Index 353.97 346.30 2.21    
NSE Consumer Index 883.14 804.07 9.83    
Volume 1.85bn 3.77bn -51.06    
Turnover (NGN) 30.85bn 26.74bn 15.4    
Turnover (USD) 161.37mn 161.37mn 11.63    

  • The NSE ASI was up by 6.52% at the end of the trading week, to close at 35,381.02, triggered by major gains on the likes of Dangote cement (N205.90,+9.21%), NB (N162.17,+13.96%), Cadbury (N46.63,+33.92%) and Nestle (N900.22,+7.25%). The NSE Banking sector was up by 2.21%, driven by the likes of Access Bank (N7.68,+3.78%), Diamond Bank(N6.10,+14.88%), FCMB (N3.40,+5.59%), Skye Bank (N2.57,+8.90%) and Zenith Bank (N20.80,+3.43%) while GT bank was down by 3.67% to N23.12. The Consumer Goods sector was up by 9.83%, driven by Cadbury (N46.63,+33.92%), Dangote Sugar (N6.19,+24.55%) and Nascon (N8.28,+18.97%). Other notable gains were seen on Transcorp (N4.12,+33.77%),Oando(N21.93,+29.76%),Unilever (N35.70,+26.06%) and PZ (N22.00,+25.43%).
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  • The total traded volume was down by 51% to 1.85bn units during the week. However, market turnover rose by 15.40% to N30.85bn. NB and Dangote cement were the most actively traded stocks with respective trades of N5.1bn and N4.8bn. GT bank (N3.3bn), Zenith bank (N3.1bn) also ended the week with significant trades.
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  • OKOMU Oil Plc released their 9M-14 results for the period ended 30th Sep 2014.Revenue rose to N6.9bn(9M-13 : N6.8bn).PBT rose to N2.1bn (9M-13: N1.6bn) while PAT was up to N2.0bn (9M-13: N1.9bn).
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  • Sterling Bank Plc is expected to raise $200 million in tier two capital next year just as it is targeting N90 billion by the close of 2014.This was disclosed by its Managing Director/Chief Executive Officer, Mr. Yemi Adeola, on the sidelines of the banks Extra-Ordinary General Meeting (EGM) in Lagos.According to him, the banks capital presently stands at N60 billion, but that if the N20 billion currently being raised in private placement is added, the banks capital would rise to N80 billion. He explained that by the time the bank ploughs back the profit will be making this year, it would end the year with about N90 billion in capital.
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  • Sterling Bank Plc has said it will hold an Extra-Ordinary General Meeting in Lagos on Tuesday to seek its shareholders' approval to raise fresh capital.To raise the capital, the bank explained in a statement on Sunday that planned to issue up to seven billion ordinary shares of 50 kobo each via special or private placement.Among other things, the bank expects the shareholders pass as a special resolution authorising the directors "to issue up to 7,471,698,113 ordinary shares of 50 kobo each from the company's share capital by way of special/private placing."
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  • The Nigerian Stock Exchange announced the expulsion of two of its dealing members, Gosord Securities Limited and Lakesworth Investment & Securities Limited.The Exchange also revoked the licences of both firms for regulatory infractions, which it said involved the unauthorised sale of clients' shares contrary to the rules and regulations governing the dealing members.In a statement by its Head, Corporate Communication, Mrs. Nwando Ajene, the Exchange stated that the actions were in line with its zero tolerance policy on regulatory infractions.
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  • FBN Holdings and its subsidiary, FBN Capital Limited announced the completion of their acquisition of a 54% equity interest in Kakawa Discount House Limited.FBN Holdings disclosed this in a statement.The ultimate aim of the majority shareholders of Kakawa Discount House was to merge its operations with that of FBN Capital to create a merchant bank.Kakawa Discount House was recently granted an approval in principle by the Central Bank of Nigeria (CBN) to set up a merchant bank.According to the statement, the acquisition represents a strategic fit for FBN Holdings portfolio."It will expand the universe of products and services offered by the Group, and enable us to not only deepen our reach to existing clients, but reach a new client base.
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  • The price for domestic gas used for power generation, which was recently increased from $1.5 per thousand cubic feet (MCF) to $2.5 per MCF will take effect from January 1, 2015.The Nigerian Electricity Regulatory Commission (NERC) had approved a new gas-to-power pricing benchmark of $2.50/mcf and $0.80/mcf as transportation costs for new capacity.The benchmark, according to the Minister of Petroleum Resources, Mrs. Diezani Alison-Madueke, would equally increase with the United States annual inflation statistics.
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  • Benchmark Brent crude fell below $80 a barrel on Wednesday for the first time since 2010 on technical selling, pressure from a strong dollar and after Saudi Arabia's oil minister refused to say if the kingdom will support calls from some OPEC members to cut crude output.
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  • Medview Airlines, which began scheduled operations in 2012, has said it plans to be listed on the Nigerian Stock Exchange.The company said to this end, it was in talks with the management of the NSE to take its shares to the public.The Managing Director and Chief Executive Officer, Medview Airlines, Alhaji Muneer Bankole, disclosed this during a briefing to mark the second anniversary of its scheduled operations in Lagos on Wednesday.
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  • We expect the market to trade upwards next week.
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