The Nigerian stock market closed higher on the week but lower than the previous week, with the NSE All-Share Index appreciating 0.45% on the day. Key announcements included the NSE appointing financial advisors for its proposed demutualization, and NASD looking to host private equity deals and crowdfunding. Several companies also announced expansion plans and quarterly earnings results. The CBN called for establishing a national risk management office to address economic risks and opportunities.

1. TRUSTBANC CAPITAL
TRUSTBANC GROUP
Weekly Market Report for 16/10/2015
KAJOLA HOUSE
62/64 Campbell Street, 5th
Floor, Lagos
www.trustbancgroup.com
E-mail:info@trustbancgroup.com
Dear Valued Customer,
The Equities on the floor Nigerian Stock Exchange closed today on a positive note, as NSE ASI
appreciated by 0.45% to close at 29,834.21% basis points, compared with a gain of 0.11%
recorded yesterday.
The NSE All-Share Index and Market Capitalization (Week on Week) depreciated by -1.1% to
close today 16th
October, 2015 at 29,834.21 and N10.25 trillion respectively.
COPORATE NEWS UPDATE…
NSE Announces Financial Advisers for Proposed Demutualization:
The Nigerian Stock Exchange (NSE) announced on Tuesday 13th
October, 2015 the appointment of
the consortium of Rand Merchant Bank (RMB) and Chapel Hill Denham (CHD) as financial advisers
on the proposed demutualization of the Exchange.
NASD Plans To House Private Equity Deals, Crowd funding:
The National Association of Securities Dealers (NASD) wants Private equity trades to be
routed through its Over-the-Counter (OTC) market. It also plans to be the hub for crowd
funding.
The OTC regulator sees the harnessing of private equity and venture capital deals as a means
through which volume and turnover in its nascent market can grow.
Vita foam Subsidiary, VitaPur Acquires New Equipment:
As part of efforts to expand its scope of production and enhance product quality, Vitapur
Nigeria Limited, a subsidiary of Vitafoam has acquired a new sandwich polyurethane panel, as
well as concluded arrangements to commission two fabricated buildings in Oyo state.
According to the firm, newly acquired equipment is expected to increase the company’s
production capacity, enhance product quality, open a new vista of an array of innovative
products in line with the global best practices and boost its profitability.
Nigerian Agricultural Sector To Receive N84bn Boost:
The Nigerian agricultural sector will receive a N84 billion boosts with liquidity pumped into
the industry. According to reports, there are plans for the unveiling of a loan scheme for
agri-businesses in the country to access in order to increase their productivity.
The Country Manager, Agriculture and Export Finance, Ecobank Nigeria, Abel Ajala, disclosed
this, adding that the bank was in collaboration with the Central Bank of Nigeria (CBN) and
the Bank of Industry (BoI).
SEC Holds Regional Roundtable on Non- interest (Islamic) Capital Market:
The Securities and Exchange Commission, in a bid to expand the depth and breadth of the
Nigerian Capital Market, and in furtherance of Nigeria’s financial inclusion objectives
within the strategic 10-year Master Plan on Non-Interest Capital Market is organizing a High-
Level Regional Roundtable on Non- interest Capital Market (Islamic Capital Market).
The Theme: “Financing Development through Islamic Capital Market – A Viable Alternative” is
coming up on Monday, October 19, 2015, 10.00a.m at Grand Central Hotel, No. 1 Bompai Road
Kano.

2. CBN Calls For Establishment of National Risk Mgt Office:
The Central Bank of Nigeria (CBN) wants the federal government to establish a national risk
management office that will arrest the various risks and opportunities before the nation’s
economy.
The CBN director, Risk Management, Ms Folakemi Fatogbe made this call yesterday in Abuja at a
forum organized by Risk Managers Association of Nigeria (RIMAN) with the theme; the role of
risk management in developing and diversifying the Nigeria economy.
First Bank Unveils Gambian Subsidiary:
First Bank of Nigeria Limited, a subsidiary of FBN Holdings Plc., has announced the launch of
its subsidiary in the Gambia, formerly registered as International Commercial Bank (ICB).
The agreement was reached by First Bank and International Commercial Bank Financial Group
Holdings Ag (ICBFGH) for the acquisition of a 100 per cent equity interest in ICB Gambia.
Oil Marketers, Govt. Dialogue Over Subsidy Arrears:
Oil marketers, including Oando and Mobil, have adopted moral suasion to woo the Federal
Government to pay their fuel subsidy arrears.
The Chief Operating Officer, Oando Marketing Company, a subsidiary of Oando Plc., Mrs.
Williams Olaposi, gave this indication on the sidelines of the inauguration of Oando Truck
Marshalling Yard 2, and Sapara Road project in Apapa, Lagos.
Olaposi said: “We (marketers) are corporate organizations; we are not going to down tools
because we have not been paid subsidies by the government. We would continue to push for our
subsidies until we are paid. We would not suffer the community, the good people of Nigeria,
on the issue. We would not stop importing because that would amount to grounding the country
to a halt.”
Companies Results Released During Week:
Forte Oil Plc. Q3 Result for the Period Ended 30 September, 2015
2015 N’ m 2014 N’ m % Change
Revenue 91,616 122,581 -25.3
PAT 4,285 4,016 6.7
UBA PLC Q3 Result for the Period Ended 30 September, 2015
2015 N’ m 2014 N’ m % Change
Gross Earning 247,205 210,715 17.32
PAT 48,557 33,628 44.40
Transcorp Plc. Q3 Result for the Period Ended 3O September, 2015
2015 N’ m 2014 N’ m % Change
Revenue 10,462 11,443 -8.6
PAT 2,347 2,763 -15.1

3. 2015 N’ m % Change
Gross Earning 229,082 184,435 24.2%
PAT 53,180 47,445 11.9%
ANALYSIS OF THE MARKET PERFORMANCE FOR THE WEEK
SECTORIAL PERFORMANCE DURING THE WEEK UNDER REVIEW
29700
29800
29900
30000
30100
30200
ASI
ASI
700
710
720
730
740
750
760
Consumer Goods
Consumer
Goods
GRAPHICAL ANALYSIS OF NSE ALL SHARE PERFOMANCE FOR THE WEEK:
SECTORIAL PERFORMANCES FOR THE WEEK:

4. TOP GAINERS TOP LOSERS
Symbols
Last
Close
Current Change Symbols
Last
Close
Current Change
FO 270 280 10 MOBIL 155 148 -7
UACN 26.85 28.05 1.2 GUINNESS 151 150 -1
ZENITHBANK 16.85 17.51 0.66 TRANSCOHOT 7.1 6.42 -0.68
GUARANTY 23.04 23.51 0.47 ETI 18.85 18.3 -0.55
NB 135.01 135.32 0.31 FLOURMILL 21.01 20.7 -0.31
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