FROM September 9 to the last day of business in the month, which was September 30, the stock market recorded a loss of N32 billion in capitalisation. What this means in effect, is that, the worth of the stocks quoted in the market diminished in value by that amount. This was due to investors selling off their shares and channeling the money realised from such to either consumption, paying of school fees or into other more profitable investment outlets in the economy.Of late, investors' desire to invest in shares, especially bank shares, has been dampened by many factors the major one being the order to banks to recapitalise before September 30 or face liquidation. The recapitalisation period expired last Friday.During the period, investors trading off their stock led to a glut; the aftermath of which is the current low value of shares in the market.In the course of the month, while some investors were offloading the stocks they possessed in some banks, others, who want to have controlling shares in the banks were busy raking off the low priced shares.For example, trading in the shares of Union Bank, Guaranty Trust Bank, First Bank and Diamond Bank brought the banks to limelight in the second week of the month, which ended on Friday, September 9. The four banks accounted for 286.45 million shares, representing 50 per cent of the share turnover in that week.In the third week, the shares of Guaranty Trust Bank, First Bank, Zenith Bank and Stanbic IBTC Bank were the toast of investors, as shares of the four banks accounted for 253.43 million shares, representing 56.37 per cent of the total volume traded during the week.The shares of Zenith Bank, Fidelity Bank, Guaranty Trust Bank and Access Bank featured prominently in the last two weeks of the month accounting for 436.39 million shares, representing 63.84 per cent turnoverfor the period.Companies That Submitted Report In The MonthE-TRANZACT PLC: Unaudited result for the half-year ended June 30, 2011, showed turnover of N898.49 million as against N354.72 million in the comparable period of 2010. Profit after tax stood at N68.7 million compared with loss after tax (rebate) of N11.33 million in 2010. The Net AssetValue stood at N2,499.59 million compared with N2,430.9 million in December 2010.STACO INSURANCE PLC: Unaudited result for the second quarter ended June 30, 2011, showed gross premium of N3,770.48 million as against N3,010.9 million in the comparable period of 2010. Profit after tax stood at N360.07 million compared with Profit after tax of N704.27 million in 2010. The Net Asset Value stood at N5,473.12 million compared with N4,716.53 million in December 2010.NIGER INSURANCE PLC: Unaudited result for the second quarter ended June 30, 2011, showed gross premium of N3,938.97 million as against N2,752.46 million in the comparable period of 2010. Profit after tax stood at N255.63 million compared with Profit after tax of N253.14 million in 2010. The Net Asset Value stood at N4,487.92 million compared with N4,303.21 million in December 2010.EKOCORP PLC: Unaudited result for the second quarter ended June 30, 2011, showed turnover of N466.63 million as against N375.32 million in the comparable period of 2010. Profit after tax stood at N60.58 million compared with Profit after tax of N33.96 million in 2010. The Net Asset Value stood at N1,422.79 million compared with Net Asset Value of N1,358.13 million in December 2010.RESORT SAVINGS & LOANS PLC: Unaudited result for the second quarter ended June 30, 2011, showed gross earnings of N608.54 million as against N545.12 million in the comparable period of 2010. Profit before tax stood at N151.4 million compared with Profit before tax of N133.26 million in 2010. The Net Asset Value stood at N4,134.26 million compared with N3,982.86 million in December 2010.ACADEMY PRESS PLC: Audited result for the year ended December 31, 2010. The Board of Directors recommended a dividend of N0.075 per share and a bonus of 1 for 4. The date of closure of register of members was Monday September 12, 2011 while payment date is October 18, 2011.The Annual General Meeting is scheduled to hold on Thursday September 29, 2011 at theRegistered Office of the Company, 28/32 Illupeju Industrial Avenue, Illupeju Estate, Lagos.CHAMS PLC: Unaudited result for the second quarter ended June 30, 2011, showed turnover of N1,788.21 million as against N293.52 million in the comparable period of 2010. Profit after tax stood at N195.46 million compared with Loss after tax (rebate) of N137.36 million in 2010. The Net Asset Value stood at N6,285.19 million compared with Net Asset Value of N5,151.73 million in December 2010.GUINNESS NIGERIA PLC: Audited result for the full year ended June 30, 2011, showed turnover of N123,663 million as against N109,366 million in the comparable period of 2010. Profit after tax stood at N17,927 million compared with Profit after tax of N13,736 million in 2010. The Net Asset Value stood at N40,283 million compared with N34,199 million in June 2010. The board of directors recommended a dividend of N10.00 per share. The date of closure of register of members is October 3, 2011.The Payment and Annual General Meeting dates will be announced later.FTN COCOA PROCESSORS PLC: Unaudited result for the second quarter ended June 30, 2011, showed turnover of N466.21 million as against N530.68 million in the comparable period of 2010. Loss after tax stood at N93.7 million compared with Loss after tax of N30.45 million in 2010. The Net Asset Value stood at N2,166.47 million compared with Net Asset Value of N2,260.17 million in December 2010.IKEJA HOTEL PLC: Unaudited result for the half year ended June 30, 2011, showed turnover of N3,436.19 million as against N3,747.45 million in the comparable period of 2010. Profit after tax stood at N512.76 million compared with Profit after tax of N738.29 million in 2010. The Net Asset Value stood at N9,208.41 million compared with N7,924.71 million in December 2010.CRUSADER (NIGERIA) PLC: Unaudited result for the second quarter ended June 30, 2011, showed gross earnings of N2,102.33 million as against N2,447.53 million in the comparable period of 2010. Profit after tax stood at N14.46 million compared with Loss after tax of N97.6 million in 2010. The Net Asset Value stood at N7,255.63 million compared with N6,996.17 million in December 2010.NEIMETH INTERNATIONAL PHARMACEUTICALS PLC: Unaudited result for the first quarter ended June 30, 2011, showed turnover of N520.66 million as against N254.99 million in the comparable period of 2010. Profit after tax stood at N42.97 million compared with Loss after tax of N102.36 million in 2010. The Net Asset Value stood at N963.34 million compared with Net Asset Value of N900.26 million in March 2011.
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