Oil firm’s share price leads gainers

Friday, 08 October 2010 00:00 By Helen Oji

ONE of the petroleum marketing giants, Conoil Nigeria Plc, traded higher at the end of yesterday’s transactions on the floor of the Nigerian Stock Exchange. It led other gainers with 187 kobo to close at N39.35 per share.

Following Conoil yesterday, was Okomu Oil Plc, adding 60 kobo to close at N12.66 per share.

Stanbic IBTC Plc, Vita foam Plc, May&Baker Nigeria Plc and First City Monument Bank Plc gained 33 kobo, 29 kobo, 22 kobo and 20 kobo to close at N9.00, N6.22, N4.74 and N5.64 per share respectively.

Other gainers of yesterday’s trading include Flourmill Plc, RT Briscoe Plc and Custodian and Allied Insurance Plc, adding 15 kobo, 14 kobo and 12 kobo to close at N60.85, N3.04 and N2.68 per share each.

However, Nigerian Breweries Plc emerged the day’s highest price loser, with 390 kobo to close at N74.60 per share, while UACN Plc trailed with 160 kobo to close at N39.80 per share.

African Petroleum Plc, Oando Nigeria Plc, Dangote Flourmills Plc, Dangote Sugar Refinery Plc featured with 133 kobo, 62 kobo, 61 kobo and 59 kobo to close at N25.33, N60.00, N13.80 and N15.56 per share respectively.

Among the top losers of yesterday’s transactions are United Bank for Africa Plc, Access Bank Plc, Benue Cement Company Plc and Guaranty Trust Bank Plc, shedding 50 kobo, 48 kobo, 48 kobo and 40 kobo to close at N9.50, N9.20, N67.62 and N15.00 per share respectively.

Corporate performance indices or the All share index of the Exchange slide by 412.11 basis point or 1.71 per cent from 24,035.92 recorded on Wednesday to 23,623.81, while a market capitalisation fell by N101 billion or 1.72 per cent from N5.889 trillion posted on Wednesday.

On the activity chart, the banking sub-sector maintained its dominance in volume terms with 169.3 million shares valued at N1.1 billion, while the insurance sub-sector followed with 152.2million units worth N91.1million in 13 6deals.

The conglomerates sub-sector ranked third with 30.9 million units valued at N87.6 million in 311 deals.

A breakdown of activities in the banking sub-sector showed that the sub-sector was enhanced by activities in the shares of Access Bank Plc, which traded 35.1million shares worth N327.5million in 281deals, followed by Diamond Bank Plc with 21.7 million units worth N152.5 million in 110 deals.

Mutual Benefit Assurance Plc’s 42.9 million shares worth N21.4 million buoyed activities in the insurance sub-sector, while International Energy Insurance Plc’s 42.9 million units worth N21.4 million followed in four deals.

On the whole, investors exchanged 416.2 million shares worth N2.1 billion in 5,717 deals.



Source: Guardian

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