MARKET REVIEW: NSE DOWN ALL WEEK ENDED Feb 3.

Nigerian stock market was down each say of the last trading week ended February 3 resulting in 2% drop in the All shares index to 25802.54 from 26328.22 previous Friday close.

Total volume was up 16.4% to 1,153,441,951 units but dominated this time by equities with limited investor interest hence total deals declined by 14.3% to 12,783.

Top volume for the week was Continental Insurance's 203,789,838 shares but limited interest led to only 36 deals. Another insurance equity, Unity Capital had lowest deal possible of just one (a crossed one?) but for big parcel of 23,053,957 units. It didnt make week top five by volume, though.

Apart from Continental Insurance, that honour belonged to FBN Holdings with 92,854,932 units sold; Diamond bank wiyh 83,428,654 shares; Transcorp (50,846,654 units) and Zenith International (42,383,932 shares).

As for week highest deals, 1162 in Guaranty Trust Bank led the pack followwed by Zenith International (922), FBN Holdings (899), Forte oil with 676 and United Capital (586).

However, as usual financial services on the main board dominated deals with 41.4% and volume (61.2%) but not market value as higher priced consumer goods 53,605,533 units led with N2,919.3m value as against N2,075m for main board financial services deals.

Naturally the All shares index stayed down through the week because losers (36) were far more than the losers (21) within the week.

Of the losers 8 equities lost above N1 per share led by Nestle Foods, down N70 to N680 per share; Total minus N30.96 to N268; Forte oil ( down N10.88); Seplat Petroleum (declined by N10) and Nigerian Breweries that lost N8.92 to close at N133.11 per share.

Four equities were the week's major gainers led by Mobil oil that gained N11.43 to N275.96 per share; 7up Bottling up N4.1 at N112.1 per share; LA Farge Africa at N44.4 per share (N3.97) and Guinness Nigeria which ended the week N1.60 at N66.5 le

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