TUESDAY, 26 OCTOBER 2010 00:00 BY HELEN OJI AND FEMI ADEKOYA

IMPROVED corporate performance, yesterday, buoyed transactions on the Nigeria Stock Exchange (NSE), as major highly capitalised stocks enjoyed price appreciation, causing market capitalisation to inch up by N21 billion.

Volume of traded equities also recorded an increase, as 357.6 million shares worth N1.9 billion were traded in 5,821 deals, over 299.9 million units valued at N2.8 billion exchanged in 4,027 deals on Friday.

Specifically, the All-Share Index of the Exchange rose by 86.76 basis points or 0.34 per cent from 24,978.70 recorded on Friday to 25,065.46, while market capitalisation increased by N21 billion or 0.34 per cent from N6,120 trillion to N6,141 trillion. 

Flourmills Nigeria Plc led the bulls up with 135 kobo to close at N70.06 per share, while Cadbury Nigeria Plc followed with 100 kobo to close at N30.00 per share.

Dangote Flourmills Plc, EcobankTransNational Incorporated Plc, Oando Nigeria Plc garnered 78 kobo, 73 kobo and 49 kobo to close at N16.39, N15.46 and N66.49 per share each.

On the other hand, Total Nigeria Plc topped the losers’ table with 1,101 kobo to close at N214.62 per share. Nigerian Breweries Plc followed with 169 kobo to close at N76.30 per share.

Other losers of yesterday’s transactions include Nigerian Bottling Company Plc, West African Portland Company Plc, Diamond Bank Plc, Fidson Healthcare Plc, shedding 100 kobo, 50 kobo, 20 kobo and 15 kobo to close at N31.00, N42.00, N7.30 and N2.97 per share respectively.

The insurance sub-sector dominated in volume terms yesterday, with 179.2 million shares worth N99.9 million in 188 deals. The banking sub-sector trailed with 139.7 million units valued at N1.2 billion. The food/beverages and tobacco sub-sector ranked third with 6.5 million shares worth N133 million in 517 deals.

Trading in the shares of Oasis Insurance Plc boosted activities in the insurance sub-sector with 166.6 milion shares worth N83.3 million, while Guaranty Trust Assurance Plc followed with 2.4 million units worth N4.3 million.

Zenith Bank Plc’s 27.1 million units worth N373.2 million enhanced activities in the banking sub-sector, while First Bank Plc’s 21.8 million units valued at N286.2 million followed in 792 deals.

 

Source: Guardian