By Udeme Ekwere

Tuesday, 25 Jan 2011

Equity trading activities on the floor of the Nigerian Stock Exchange closed positive on the first trading day of the week.

Specifically, the market capitalisation of the listed equities rose by N27bn or 0.3 per cent from N8.849tn to close at N8.876tn.

Similarly, the NSE All-Share Index rose by 0.2 per cent or 85.71 basis points from 27,684.40 to close at 27.770.11.

The NSE-30 Index inched higher by 0.2 per cent or 2.30 points from 1,220.19 to close at 1,222.49, while the NSE Food/Beverages Index closed at 842.57 as against 836.13 recorded on Friday.

Analysts noted that the stocks of petroleum marketing, breweries, food & beverages, air services, building material sectors and rescued banks led activities during trading.

This, according to them, was on the back of continued active and profitable bargain witnessed across the sectors.

The NSE Banking Index, however, recorded losses, sliding by 0.41 per cent or 1.91 points to close at 460.76 down from 462.67 points at the close of trading last week.

In the banking sub-sector, investors staked N5.761bn on 614 million shares, in 4,409 deals.

Volume in the sub-sector accounted for 77 per cent of total turnover traded on Thursday.

Trading in the shares of First Bank of Nigeria Plc drove turnover in the sub-sector, accounting for 34 per cent.

Other stocks that drove volume in the sub-sector were Unity Bank Plc, Bank PHB Plc and Oceanic Bank International Plc.

The insurance sub-sector, driven by trading in the shares of Custodian and Allied Assurance Insurance Plc and Aiico Insurance Plc followed on the activity chart, with investors exchanging 27.86 million shares, valued at N42.52m in 455 transactions.

Nigerian Aviation Handling Company Plc recorded the highest price appreciation for the day, rising by five per cent or 55 kobo to close at N11.55 per share.

Niger Insurance Plc rose by five per cent or five kobo to close at N1.05 per share, while Nigerian Bottling Company Plc and Oceanic rose by 4.9 per cent each close at N38.58 and N3.80 per share respectively.

On the other hand, Red Star Express Plc led on the losers chart with five per cent or 16 kobo to close at N3.04 per share.

AG Leventis Plc and Intercontinental Wapic Insurance Plc fell by 4.7per cent and 4.6 per cent to close at N2.41 and 62 kobo per share, respectively.

Source: Punch