By Ademola Alawiye

Friday, 17 Dec 2010

The bullish trend recorded in the equities segment of the stock market earlier in the week, was reversed on Thursday, due to profit-taking by investors in some major blue chip stocks.

At the close of trading activities, a total of 253.53 million shares, valued at N3.03bn were exchanged in 6,495 deals, in contrast to a total of 257.45 million shares, worth N2.38bn in 4,942 deals recorded the previous day.

Nigerian Bottling Company Plc led 33 other stocks on the gainers‘ chart, rising by 4.98 per cent or N1.65 to close at N34.75 per share.

Ashaka Cement Plc followed with an increase of 4.98 per cent or N1.22 to close at N25.72 per share. Unilever Nigeria Plc rose by 4.98 per cent or N1.15 to close at N24.25 per share.

On the other hand, MRS Oil Nigeria Plc led the losers chart, down by five per cent or N3.50 to close at N66.56 per share. Okomu Oil Palm Plc also recorded a 4.96 per cent or 69 kobo loss to close at N13.21 per share, while BOC Gases Plc lost 4.96 per cent or 48 kobo to close at N9.20 per share.

The Nigerian Stock Exchange’s All-Share Index fell by 0.29 per cent or 72.26 points to close at 24,438.78 points, from 24,511.04 points recorded on Wednesday.

Similarly, the market capitalisation of the listed equities also dropped by 0.29 per cent or N23bn from N7.83tn to N7.81tn.

The NSE Banking Index, however, rose by 1.32 per cent or 5.10 points to close at 392.32 points, from 387.22 points.

Turnover was driven by trading in the banking sub-sector, as it accounted for 65 per cent of total turnover.

Trading in the shares of Zenith Bank Plc, Guaranty Trust Bank Plc and United Bank for Africa Plc drove volume in the sub-sector.

The NSE Insurance Index fell by 0.72 per cent or 1.10 points to close at 151.04 points, from 152.14 points recorded the preceding day. The insurance sub-sector followed on the activity chart, accounting for 12 per cent of total turnover.

 

Source: Punch