By Udeme Ekwere
Friday, 21 Jan 2011
The equities market extended its advance for the second day this week on Thursday, as investors showed increased interest in stocks.
The development led to a one per cent rise in the Nigerian Stock Exchange’s All-Share Index, from 27,245.10 to 27,515.25.
Similarly, the market capitalisation of the listed equities rose by one per cent or N86bn to close at N8.791tn up from N8.704tn the previous day.
The NSE-30 Index rose by 1.3 per cent or 15.16 points from 1,201.05 to close at 1,216.21 points, while the NSE Food/beverages Index was up by 1.1 per cent or 9.11 points from 824.98 to 834.09 points.
The NSE banking Index and the Oil/Gas Index also rose by 1.1 per cent and 1.6 per cent to 457.41 and 364.37 points respectively.
Turnover in the banking sub-sector continued to drive total volume, as investors staked N7.154bn on 589.192 million shares in 3,411 deals. Trading in the sub-sector accounted for 87 per cent of total volume and 79 per cent of the value traded on Thursday.
Activity in the shares of First Bank of Nigeria Plc and Zenith Bank Plc drove volume in the sub-sector, accounting for 59 per cent of the sub-sector’s turnover.
Other stocks that drove volume in the sub-sector were Diamond Bank Plc and Fidelity Bank Plc.
In the insurance sub-sector, 12.88 million shares, valued at N12.31bn were exchanged by investors in 254 deals.
Meanwhile, Nigerian Bags Manufacturing Company Plc led the price gainers’ chart, rising by five per cent or 14 kobo from N2.80 to close at N2.94 per share.
First Aluminium Plc followed, up by five per cent to close at 63 kobo per share.
Royal Exchange Plc and Unity Bank Plc gained five per cent and 4.9 per cent to close at 63 and N1.61 per share respectively.
On the other hand, Nigerian-German Chemicals Plc recorded the highest loss, shedding 4.9 per cent or 61 kobo to close at N11.66 per share.
Costain West African Plc and Livestock Feeds Plc lost 4.8 per cent each to close at N7.58 kobo and 59 kobo per share respectively.
Beco Petroleum Plc and Prestige Assurance Plc also lost 4.5 per cent and 3.8 per cent to close at 63 kobo and N2.02 respectively.
Source: Punch
