The over-the-counter market for the Federal Government Bonds recorded a turnover of 464.22 million shares, valued at N470bn, was exchanged in 3,730 deals in January 2008. This represents a decrease by six per cent in terms of turnover, over the 494 million shares, worth N501.22bn exchanged the previous month in 4,466deals.

According to the Nigerian Stock Exchange monthly market review made available on Thursday, the most active bond in terms of turnover volume was the 4th FGN Bond 2010 Series 14 which traded 80 million units valued at N78.64bn in 711 transactions.

”First Bank of Nigeria Plc remained the most capitalised stock for the month, with market capitalisation of N813.70bn, while Intercontinental Bank Plc followed with a market capitalisation of N759.45bn,” the report said.

Oceanic Bank International Plc also followed with a market capitalisation of N599.98bn.
According to the review, the most active stocks (in terms of turnover by volume) include the stocks of Equity Assurance Plc, trading a total of 1.8 billion shares, Lasaco Assurance Plc trading 1.6 billion shares, and N.E.M Insurance Company Nigeria Plc, which traded a total of 1.1 billion shares.

Others include Continental Reinsurance Plc and Intercontinental Bank Plc, which traded a total of 879 million shares and 869 million shares respectively.

In all, a total of 20 billion shares valued at N283.19bn were recorded this month in 349,601 deals. This represents an increase of 109 per cent in terms of turnover, over the 9.59 billion shares worth N164.78bn exchanged the preceding month in December in 180,869 transactions.

It stated,”The NSE All-Share Index, which opened at 57,990.22 closed at 58,570.55. This shows an increase of 1.1 per cent during the month.”

In all, a total of 120 stocks appreciated in price, while 32 stocks depreciated.
Chevron Oil Nigeria Plc led the price gainers‘adding N76.25 to close at N236.25 per share. The shares of the Nigerian Energy Sector Fund, and African Petroleum Plc also added N76 and N53 to close at N741.23 and N260 respectively.

On the losers‘chart, Ecobank Transnational Incorporated led, dropping by N11 to close at N206. Oceanic bank International Plc and West African Portland Company Plc shed N10.40 and N9.80 to close at N27 and N70 respectively.