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Awareness in capital market pushes first quarter turnover to 161.65 %
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The capital market may have finally started reaping from the Nigerian Stock Exchange (NSE) awareness campaign embarked upon some years ago.
The results of the performance for the year 2008 placed side-by-side with the equivalent period in 2007 show that the turnover recorded 68.55 billion shares that value N990.41 billion in 2008, above the 26.2 billion shares that worth N335.62 billion in 2007. This represents an increase of 161.65 percent over the 2007 figure.
According to market operators, a combination of price appreciation and new listing led to the increase of market capitalisation to N12.12 trillion in March 2008 from N10.18 trillion as on December 2007. The All-Share index of the NSE grew tremendously during the period by 8.67 percent in the first quarter of 2008. Some of the equities recorded significant of over 900 percent in terms of price appreciation. An instance of this, Premier Paints plc, a company in the chemical and paints sub-sector, soared by 914.88 percent from a price of N1.21 at the beginning of quarter to N12.28 per share. The stock like some other stocks in 2007 were inactive for many years but most of them cashed on the market awareness and positive market sentiments.
Alumaco plc also appreciated by 768.97 percent from N3.90 to close at N33.89 per share, while Morison Industries plc in the healthcare sub-sector, closed the year with a growth of 759.04 percent, having appreciated from N2.71 per share to N23.28.
Juli plc, a company in the emerging or second-tier sector returned 714.55 percent; Arbico plc in the construction sub-sector had a return of 523.26 percent. Nigerian Enamelware plc also returned 457 percent, while Greif Nigeria plc made an increase of 456.16 percent during the period under survey.
Other stocks in this category included, John Holt plc, which returned 339.42 percent and International Breweries plc which appreciated and returned 296.89 percent, moving from N2.57 to N10.20 per share as result of injections of new funds by way of offer for subscription.
In the same vein, Scoa Nigeria plc returned 288.77 closing the quarter at N18 from N4.63 per share it was selling at the beginning of the quarter.
Sectoral analysis of the market during the quarter shows that the Construction Sub-sector led on the table of with an average return of 216.68 percent. As earlier indicated, the sub-sector was merely benefiting from the increased government patronage and boom in the housing sector.
The results of the performance for the year 2008 placed side-by-side with the equivalent period in 2007 show that the turnover recorded 68.55 billion shares that value N990.41 billion in 2008, above the 26.2 billion shares that worth N335.62 billion in 2007. This represents an increase of 161.65 percent over the 2007 figure.
According to market operators, a combination of price appreciation and new listing led to the increase of market capitalisation to N12.12 trillion in March 2008 from N10.18 trillion as on December 2007. The All-Share index of the NSE grew tremendously during the period by 8.67 percent in the first quarter of 2008. Some of the equities recorded significant of over 900 percent in terms of price appreciation. An instance of this, Premier Paints plc, a company in the chemical and paints sub-sector, soared by 914.88 percent from a price of N1.21 at the beginning of quarter to N12.28 per share. The stock like some other stocks in 2007 were inactive for many years but most of them cashed on the market awareness and positive market sentiments.
Alumaco plc also appreciated by 768.97 percent from N3.90 to close at N33.89 per share, while Morison Industries plc in the healthcare sub-sector, closed the year with a growth of 759.04 percent, having appreciated from N2.71 per share to N23.28.
Juli plc, a company in the emerging or second-tier sector returned 714.55 percent; Arbico plc in the construction sub-sector had a return of 523.26 percent. Nigerian Enamelware plc also returned 457 percent, while Greif Nigeria plc made an increase of 456.16 percent during the period under survey.
Other stocks in this category included, John Holt plc, which returned 339.42 percent and International Breweries plc which appreciated and returned 296.89 percent, moving from N2.57 to N10.20 per share as result of injections of new funds by way of offer for subscription.
In the same vein, Scoa Nigeria plc returned 288.77 closing the quarter at N18 from N4.63 per share it was selling at the beginning of the quarter.
Sectoral analysis of the market during the quarter shows that the Construction Sub-sector led on the table of with an average return of 216.68 percent. As earlier indicated, the sub-sector was merely benefiting from the increased government patronage and boom in the housing sector.
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