ON the trading floor of the Exchange last week, the market opened on Monday on a bearish note as cumulative performance of the twin-market indicators suffered a 1.33 per cent loss. This came despite a total of 275,000,000 shares that were added to the shares outstanding in the name of UACN Property Development Company Plc following the bonus of 1 for 4.  In particular, the market indicators represented by the market capitalisation and the All-share Index both dropped by 1.33 per cent each, the capitalisation which opened at N6.747 trillion closed at N6.657 trillion and the index  plunged 369.22 bases point to close at 27,383.91 point from 27,753.13 point at which it opened.

Fifty-nine stocks depreciated compared to 33 stocks that appreciated. Losses have been attributed to drops in the share price if major companies, African Petroleum Plc dropped by 4.74 per cent, Julius Berger Nigeria, Unilever, Nigerian Breweries Plc and Guinness Plc dipped by 2.65, 4.98, 1.80 and 0.63 per cent, while Conoil, 7up, Flourmills, Oando and GlaxoSmithKline rose by a value of 4.96, 4.99, 1.67, 0.81 and 2.5 per cent respectively.

The market was on the upbeat on Tuesday as the market capitalisation appreciated by N12.96 billion while the index climbed 53.34 basis points. A total of 602.5 million shares worth N5.53 billion were traded in 8,784 deals.

Specifically, equities’ value, represented by the market capitalisation, rose by 0.19 per cent, from N6.657 trillion at which it opened to close at N6.670 trillion. The All-share index garnered 53.34 basis points to close at 27,437.25 points from 27,383.91 points at which it opened

Nestle Nigeria Plc, Oando, Nigerian Breweries, Flourmills and Guaranty Trust Bank appreciated by 3.50, 2.88, 1.84, 1.31 and 4.95 per cent.  Lafarge WAPCO shed the maximum 5.0 per cent in the day’s transaction while Cadbury, UAC-Properties, Unilever and PZ cusson dropped by 4.99, 4.99, 4.98 and 2.87 per cent.

Transaction in equities on Wednesday saw losers outweighing gainers. This followed major losses incurred by most blue chip companies, causing market capitalisation to slide marginally by N3bilion.

Specifically, at the close of transactions in the day, the few price gains recorded by some highly capitalised companies were not enough to push market indices.

Precisely, 45 stocks witnessed price depreciation as against 33 which appreciated in the day. Oando Nigeria PLC, Guinness, Cadbury, UACN and CCNN all suffered 3.50, 2.49, 4.67, 2.65 and 4.37 per cent dip in value while Nestle Nigeria, Total Nigeria, Chemical and Allied Products rose by 4.92, 2.54, 4.98, 4.76 and 4.82 per cent rise respectively.
Corporate performance indices or the All-share index of the Exchange fell by 12.78 points or 0.04per cent from 27,437.25 recorded on Tuesday to 27,424.47 while market capitalisation slid by N3billion or 0.04 per cent from N6,670 trillion to N6,667 trillion.

With transactions exchanged in 3,652 deals, the banking sub-sector was the most active in volume terms with 162.6million shares worth N1.5billion followed by other financial institution sub-sector with 46.5million units worth N43.3million in 43deals while the insurance sub-sector with36.2million units valued at N47.6million in 510deals.

In all, 369million shares worth N4.3billion were exchanged in 13,197 by investors.

Thursday saw transaction reverting to the bearish trend with which the market opened on Monday, as investors’ wealth again dipped by N45 billion or 0.7 per cent while the index also fell by 0.7 per cent or 197.21 points. In the day a total of 634,585,472 shares were added to the shares outstanding in the name of Tourist Company of Nigeria Plc at N3.79 per share following the conclusion of Placing to Sun International Limited.

Fifty-eighty stocks depreciated compared to 22 stocks that appreciated. Oando Plc, Conoil, NBC, Cadbury and BCC all depreciated by 5.00, 4.99, 4.11, 3.57 and 1.07 per cent while CAP, Lafarge WAPCO, UPL, International Breweries and Zenith Bank rose by a value of 4.98, 2.31, 4.99, 4.90 and 0.92 per cent respectively.

Volume trade also witnessed a significant drop, as 316.3 million shares worth N3.3 billion in 11.133 deals, down from 369 million units, worth N4.2 billion exchanged in 13,197 deals on Wednesday.

The cumulative corporate performance indices, the All-Share Index of the Exchange slid by 197.21 points or 0.7 per cent, from 27,424.47 recorded on Wednesday, market capitalisation declined by N45 billion or 0.677 per cent, from N6.667 trillion to N6.622 trillion.

The market closed the week on Friday on a depressed note as the market capitalisation dipped by N107 billion while the index fell 442.36 points to close the week at low of N6.515 trillion and 26,784.90 points respectively. A total of 603,389,752 shares were added to the shares outstanding in the name of Oando Plc in the day’s transaction following the bonus of 1 for 2.

The total loss in the market in the week stood at N232.11 billion or 3.44 per cent..

The All-share index, another index for measuring performance of listed equities, shed 3.49 per cent to close the week at 26,784.90 points from 27,753.13 points. Meanwhile, a turnover of 145.8 million units worth N171,270.11 million in 1,127 deals was recorded last week, in contrast to a total of 265.1 million units valued at N322,059.01 million exchanged in 2,537 deals during the week ended Thursday, May 13, 2010. The most active bond (measured by turnover volume) was the 6th FGN Bond 2019 Series 4 with a traded volume of 23.15 million units valued at N23,899.5 million in 187 deals. This was followed by the 6th FGN Bond 2029 Series 5 with a traded volume of 20.3 million units valued at N22,307.16 million in 175 deals. Twenty-two (22) of the available thirty-nine (39) FGN Bonds were traded during the week, compared to 28 in the preceding week.

However, the avalanche of attacks on the person of Ms. Arunma Oteh, the new Director General of the Securities and Exchange Commission (SEC), is growing by the day, despite the recent value rise recorded on the stock market; a major entity SEC oversees its functions.

The mounting war of attrition has since pitched Oteh against these market crusaders who cut across dealing members in the capital market and shareholders  of the Nigerian stock market.