business0521

46 BUSINESS DAY
Thursday 21 May 2015
LIVE @ THE STOCK EXCHANGE
GAINERS
Top Gainers/Losers as at Wednesday 20 May 2015
Company Opening Closing Change
MOBIL 151 154 3
NB 154 154.6 0.6
ASHAKACEM 21 21.5 0.5
SKYEBANK 2.61 2.87 0.26
OANDO 17.75 18 0.25
LOSERS
Company Opening Closing Change
NESTLE 905.02 880 -25.02
FO 188.99 186.99 -2
BETAGLAS 36.38 34.67 -1.71
PRESCO 32.3 30.69 -1.61
NCR 12.19 11.02 -1.17
Market Statistics as at Wednesday 20 May 2015
ASI (Points) 34,533.40
DEALS (Numbers) 4,797.00
VOLUME (Numbers) 1,881,825,395.00
VALUE (N billion) 5.494
MARKET CAP (N Trn) 11.733
Sell pressure pushes YtD
CIS parleys varsity students
on investor education
returns to red zone
IHEANYI NWACHUKWU
With only
19 gaine
r s
against
36 losers
yesterday, the yearto-date
(YtD) returns
of the Nigerian equities
market has re-entered
the red zone at -0.36 percent.
As sell pressure persists
on the trading
floor of Nigerian Stock
Exchange (NSE), the
benchmark performance
indicator All Share Index
(ASI) decreased yesterday
by 0.50 percent.
The All Share Index
closed at 34,533.40
points against the preceding
day’s level of
34,706.93 points while
market capitalisation
closed at N11.733trn
against preceding level
of N11.792trn, an indication
that investors lost
about N59billion from
the value of their stocks
at the Nigerian bourse.
Analysis of trade
shows volume increased
by 426.78 percent,
from 357.23 million to
1881.82million, while the
Unity Bank plc is
targeting profit
before tax (PBT)
of N30.41bn in
2017, according to Henry
James Semenitari, managing
director of the bank. He
disclosed this at the bank’s
‘Facts behind the figures’
held at the Nigerian Stock
Exchange (NSE) in Lagos.
According to Semenitari,
the bank was targeting
a profit before tax of
N20.26bn for the financial
year ending December
31, 2015 and N26.13bn in
2016 financial year, adding
that the bank would
achieved the target barring
total value of stock traded
increased by 32.41
percent from N4.15bn to
N5.49bn in 4,797 deals.
Nestle Nigeria plc led
the losers’ table after
its share price declined
from N905.02 to N880,
losing N25.02; Forte Oil
plc dipped by N2, from
N188.99 to N186.99; Beta
Glass plc also declined
from N36.38 to N34.67,
losing N1.71; Presco plc
lost N1.61, from N32.3
to N30.69; while NCR plc
declined from N12.19 to
N11.02, losing N1.17.
“We expect to see further
sell-offs in the market
in the next trading
day as investors’ sentiment
remain weak,” according
to investment
analysts at United Capital
plc.
On the gainers’ table,
Mobil Oil Nigeria rose
by N3, from N151 to
N154; Nigerian Breweries
plc rose from N154
to N154.6, adding N0.6;
Ashaka Cement plc rallied
from N21 to N21.5,
adding N0.5; Skye Bank
plc gained N0.26, from
N2.61 to N2.87; while
Oando plc from N17.75
to N18, adding N0.25.
Unity Bank targets N30.41bn profit by 2017
Henry James Semenitari, managing director, Unity Bank
unforeseen circumstances
and stable business environment.
The managing director
said that the bank was
also targeting gross earnings
of N109.49bn in 2017,
N88.52bn in 2016 and
N76.26bn in 2015 financial
years respectively.
Semenitari attributed
the bank’s growth strategy
to operational efficiency
derived from its business
model and strategic intent.
He said that agriculture
sector remained
a major strategic focus of
the bank based on its historical
strength, noting that
As part of its
prime activities
of taking
investor education
to the grassroots,
the Chartered Institute
of Stockbrokers (CIS) recently
played host to the
Finance students of University
of Lagos.
The students who
were led by Rufus Olowe,
their course adviser, interacted
with the top officials
of the CIS on many
aspects of the capital
market. They were exposed
to the operations
of the institute and the
need for professionalism.
The one-day interactive
session covered
areas such as the concept
of the capital market
and stock market,
regulators, operators
and investors in the
market, financial instruments,
reward and
risk elements in investment,
elementary risk
aversion measures and
how the government
at various tiers, companies
and individuals
can utilise the market
optimally.
Addressing the students,
Vincent Adubor,
the institute’s head,
corporate services, ex-
the bank would focus on
emerging middle market
entrepreneurs to remain
retail bank of choice.
The bank recorded a
tremendous growth from
a loss position of N33.64bn
in December 2013 to a
profit position of N13.6bn
before tax in 2014 financial
year.
On the bank’s share
reconstruction, Semenitari
said that the bank embarked
on the exercise to
sustain its business module
toward commencement of
dividend payment.
He said that the exercise
would enable the
plained the processes
involved in becoming a
stockbroker, roles of the
CIS and the global recognition
accorded the
institute’s certification
and its membership of
many professional associations.
Adedeji Ajadi, the
institute’s registrar and
chief executive, advised
the students to
take advantage of the
visit to make career in
the financial market.
Ajayi explained that the
students’ finance background
would position
them to become market
players.
Olowe expressed
gratitude to the management
of the institute
for hosting the students
and providing a platform
for discussing issues
that can advance
their careers in the financial
market.
The institute has
embarked on membership
drive through series
of unique activities.
Apart from the youths,
there are programmes
designed for churches,
mosques, market women
and professionals to
take advantage of opportunities
in the capital
market.
bank to ensure enhanced
dividend pay-out to all
shareholders in the nearest
future. The managing
director explained
that the volume of shares
when compared with
the shareholders’ funds
would not enable the
bank generate profit that
would enhance shareholders
value.
He assured stakeholders
that the basis of the reconstruction
was largely on
performance which would
enable the bank to ensure
enhanced dividend payment
to all shareholders in
the nearest future.