By Ademola Alawiye

Saturday, 27 Nov 2010

Activities at the Nigerian Stock Exchange closed on a positive note on Friday, as the market capitalisation rose by N26bn to close at N7.86tn, from N7.83tn recorded the previous day.

Similarly, the NSE‘s All-Share Index rose by 0.33 per cent or 82 points to close at 24,611.56 points, from the 24,529.56 recorded on Thursday.

The NSE-30 Index rose by 0.40 per cent or 4.23 points, to close at 1,058.10 points, as against 1,053.87 recorded the preceding day.

The NSE Banking Index appreciated by 0.16 per cent or 0.6 points, from 381.81 points to close at 382.41 points, while the NSE Insurance Index increased by 0.29 per cent or 0.18 points, from 161.66 points to close at 161.95 points.

Analysts attributed the rise in market indices to appreciation in the banking, petroleum marketing and agricultural sub-sectors.

They added that the increase could have been more, but the selling pressure recorded in some sub-sectors accounted for the reduction in the value of the corporate indices.

Activities in the banking sub-sector drove turnover, as it accounted for 64 per cent of total volume. In the sub-sector, investors exchanged 223.21 million shares, worth N986.40m in 3,311 deals.

Volume in the sub-sector was driven by trading in the shares of Oceanic Bank International Plc, Unity Bank Plc and Finbank Plc.

Total Nigeria Plc led the gainers‘ chart, rising by five per cent or N5.00 to close at N225.35 per share. Oceanic Bank followed with an appreciation of 4.98 per cent or 12 kobo to close at N2.53 per share, while Afribank Plc finished with 4.88 per cent gain or 12 kobo to close at N2.58 per share.

Okomu Oil Palm Plc recorded the highest loss for the day, down by five per cent or 75 kobo to close at N14.25 per share, while Secure Electronic Technology Plc lost five per cent or 12 kobo to close at N2.28 per share. International Breweries Plc followed with a five per cent or 30 kobo loss to close at N5.70 per share.

 

Source: Punch