By Udeme Ekwere
Saturday, 12 Feb 2011
Equity trading activities ended on a positive note on Friday, with the twin market gauge – the Nigerian Stock Exchange All-Share Index and the market capitalisation – improving significantly.
Specifically, the index increased by 0.3 per cent or 76.51 basis points from 26,607.98 on Thursday, to close at 26,684.49.
Similarly, the market capitalisation of the listed equities closed at N8.529tn, representing an increase of 0.3 per cent or N24bn over N8.505tn recorded the preceding day.
Analysts said that Nigerian stocks got a breather as investments in equities rose after the prolonged profit taking by investors.
The NSE-30 index rose by 4.71 points or 0.3 per cent from 1,159.60 to close at 1,164.31 points, while the banking index increased by 0.3 per cent or 1.53 basis points to close at 439.55 points from 438.02 the preceding day.
The Food/Beverages Index closed at 842.57 points, representing an increase of 0.4 per cent while the NSE Insurance Index increased by 0.6 per cent to close at 181.74 points.
Nigerian Bags Manufacturing Company Plc recorded the highest price appreciation of the day, rising by 4.8 per cent or 14 kobo to close at N3.03 per share.
Goldlink Insurance Plc appreciated by 4.76 per cent or three kobo to close at 66 kobo per share, while Bank PHB Plc and Neimeth International Pharmacy Plc rose by 4.6 per cent each to close at N2.26 and N1.82 kobo per share respectively.
Spring Bank Plc, on the other hand, recorded the highest loss for the day, shedding 4.9 per cent or 10 kobo to close at N1.92 per share.
Paints and Coatings Manufacturing Nigeria Plc also lost 4.9 per cent or 15 kobo to close at N2.89 per share, while RT Briscoe Plc fell by 4.8 per cent or 14 kobo to close at N2.76 per share.
A total of 243.39 million shares, valued at N2.324bn were exchanged by investors in 5,233 transactions.
Total turnover was driven by activities in the banking sub-sector, as the sector accounted for 70 per cent of volume.
Investors in the banking sub-sector staked N1.159bn on 171.388 million shares in 3,126 transactions.
Turnover in the sub-sector was driven by trading in the shares of Finbank Plc, Guaranty Trust Bank Plc and Bank PHB Plc.
Source: Punch
