MARKET BRIEF:
An aggregate volume of 133.95million shares worth 2.173billion was transacted today in 4,033 deals well above yesterday’s
Trading statistics of 128.17 million shares traded in 5,135 deals worth N1.439 billion. However, The NSE
All -Share Index closed higher today at 33,540.01 points against 33,322.47 points it closed previous week while
Total market capitalisation of listed equities climbed up by a margin (0.66%) to stand N4.272 trillion above N4.244trillion recorded on
Friday December 27, 2007.
CORPORATE RESULTS:
The full year result of
Oceanic Bank PLC was released today with declaration of script issue of 1 for 4 and proposed dividend of 42k (See our attached Market Update for detailed results).
SECTORAL PERFORMANCE:
The banking sub-sector maintained its lead in the market with a market
share of about 83% worth approximately 56% of the aggregate
Value of
Securities traded in the market today. The Conglomerates sub-sector ranked second with about 3.8% of the
Total market
share (by turnover) valued at ~3.42% of the cumulative market
Value while
Building Materials sub-sector came third with ~2.3% of the market
share (by volume traded) amounting to ~7.4% of aggregate market
Value .
MARKET MOVERS:
The top ten (10) trades (by volume of traded on the
Exchange ) in the market todayDIAMOND,
Fidelity , GTB,
IBTC ,
Oceanic , PLATINUM,
Transcorp ,
UBA ,
UBN , WEMABANK.. They
All accounted for about 77% of the
Total volume traded worth approximately 48% of the market
Value .
PRICE MOVEMENTS:
ETI emerged leader in the gainers’ camp today (measured in absolute term) with a
Price increase of N11.68k to close at N245.38k while
Nestle topped losers’ list with a
Price cut of N7.80k to close N218.20k. (See our attached Market Update for a comprehensive
Price list).
TERM OF THE DAY:
CLIENTELE EFFECT:
This is the theory that a
Company \'s
Stock Price will move according to the demands and goals of
Investors in reaction to a tax, dividend or other policy change affecting the
Company . The clientele effect assumes that
Investors Are attracted to different
Company policies, and that when a
Company \'s policy changes,
Investors will adjust their
Stock Holdings accordingly. As a result of this adjustment, the
Stock Price will move.
For instance, given a
Company that currently pays a high dividend and has attracted clientele whose
Investment goal is to obtain
Stock with a high dividend payout. If the
Company decides to decrease its dividend, these
Investors will sell their
Stock and move to another
Company that pays a higher dividend. As a result, the
Company \'s
share Price will decline.
MARKET UPDATE: REFERRALS
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Thank you for taking time
Out to
Read our market update. Should you wish that your friends, acquaintances and
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Please click below for the FULL MARKET UPDATE.
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Attachment : MARKET UPDATE DECEMBER 27, 2006.xls
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MERISTEM
Securities Ltd .
124 Norman
Williams Street,
South
West, Ikoyi,
Lagos .
P.O Box 51585
Falomo, Ikoyi,
Lagos .
Phone:234-1-2717350-5; Fax: 234-1-2717356, 2690118.
Website:www.meristemng.com E-mail:info@meristemng.com
