By Udeme Ekwere
Thursday, 20 Jan 2011
The equities segment of the Nigerian Stock Exchange rebounded at the close of trading activities on Wednesday, after the losses incurred the previous day.
Specifically, the market capitalisation of the listed equities rose by 1.1 per cent or N93bn from N8.612tn the previous day, to close at N8.704tn.
Similarly, the NSE’s All-Share Index rose to 27,245.10, representing a 1.1 per cent increase from 26,953.80 points recorded on Tuesday.
The market capitalisation had opened for trading this week, at N8.711, and lost N100bn or 1.1 per cent to close activities on Tuesday, at N8.612tn, while the NSE’s All-Share Index lost 1.1 per cent or 313.37 basis points to close on Tuesday at 26,953.80 points, down from 27,267.17 at which it opened the week.
The NSE-30 Index also rose by 1.5 per cent or 18.3 points from 1,182.75 to close at 1,201.05.
Market analysts said that investors were trying to take position in the stocks in anticipation of the full-year results of some companies due to be released this quarter.
Guinness Nigeria Plc had the highest price appreciation for the day, rising by five per cent or N10.50 to close at N220.58 per share. It led 47 other stocks on the chart.
A.G. Leventis Nigeria Plc rose by 4.9 per cent or 12 kobo to close at N2.53 per share.
Two breweries’ stocks, Champion Breweries Plc and International Breweries Plc gained 4.9 per cent each to close at N2.34 and N6.19 per share respectively.
Nigerian-German Chemicals Plc recorded the highest price loss, shedding 4.9 per cent or 64 kobo to close at N12.27 per share.
Meanwhile, the banking sub-sector continued to drive total volume, pushing the NSE Banking Index up by 2.1 per cent or 9.24 points from 443.25 to 452.49 points.
In the banking sub-sector, investors staked N2.31bn on 274.281 million shares in 4,037.
Activities in the banking sub-sector accounted for 70 per cent of total turnover and 64 per cent of value recorded on Wednesday.
Trading in the shares of First Bank of Nigeria Plc, Unity Bank Plc, Fidelity Bank Plc and Finbank Plc drove volume in the sub-sector.
Source: Punch
