By Ademola Alawiye

Saturday, 18 Dec 2010

Trading activities at the equities segment of the Nigerian Stock Exchange closed the week on a positive note, with major market indicators recording marginal increases.

The NSE‘s All-Share Index rose by 0.02 per cent or 5.5 basis points to close at 24,444.28 basis points, from 24,438.78 points.

Similarly, the market capitalisation of the listed equities also appreciated by 0.02 per cent or N2bn from N7.807tn recorded on Thursday to close at N7.809tn.

The NSE-30, however, dropped by 0.63 per cent or 6.7 basis points to close at 1,052.07 basis points, as against 1,058.77 basis points.

The NSE Banking Index fell by 2.13 per cent or 8.35 points to close at 383.97 basis points, from 392.32 basis points.

The NSE Insurance Index recorded a marginal decline, dropping 1.02 per cent or 1.54 points from 151.04 basis points to close at 149.50 basis points.

Activities in the banking sub-sector continued to drive total volume, as it accounted for 60 per cent of total volume. Investors exchanged 188.11 million shares, worth N1.38bn in 2,878 deals.

Volume in the sub-sector was driven by trading in the shares of United Bank for Africa Plc and Bank PHB Plc.

The insurance sub-sector followed on the activity chart, as investors exchanged 24.48 million shares, valued at N16.21m in 204 deals. Turnover in the sub-sector was driven by trading in the shares of AIICO Insurance Plc, Law Union and Rock and Equity Insurance Plc, Equity Assurance Plc and Oasis Insurance Plc.

Nigerian Bags Manufacturing Company Plc led the gainers‘ chart with an appreciation of five per cent or 10 kobo to close at N2.10 per share. Cutix Plc followed with a gain of five per cent or 11 kobo to close at N2.31 per share, while Vono Products Plc finished with a gain of five per cent or 11 kobo to close at N2.31 per share.

African Petroleum Plc recorded the highest price loss for the day, down by 4.85 per cent or N1.08 to close at N21.20 per share. Afribank Plc also lost 4.80 per cent or 11 kobo to close at N2.18 per share. Intercontinental Bank Plc Plc lost 4.76 per cent or 10 kobo to close at N2.00 per share.

Source: Punch