By Udeme Ekwere

Wednesday, 23 Feb 2011

Equity trading activities closed on a positive note on Tuesday, with major market indicators recording marginal appreciation.

The Nigerian Stock Exchange’s All-Share Index rose for the fourth day by 0.14 per cent or 37.72 basis points, from 26,709.32 the preceding day, to close at 26,747.04.

Similarly, the market capitalisation of the listed equities, which had increased by N22bn the previous day, rose further by N12bn or 0.14 per cent to close at N8.549tn, up from N8.537tn.

Analysts traced the continued rise in activities to marginal increases recorded in the activities of the rescued banks, as a few of them, such as Wema Bank Plc, Unity Bank Plc and Oceanic Bank International Plc gained over four per cent at trading’s close.

Other indices, such as the NSE-30, rose by 0.4 per cent or 5.02 points, from 1,169.78 to close at 1,174.80 points, while the NSE Insurance Index rose by 2.3 per cent or 4.25 points to 185.79, up from the 181.54 points recorded the preceding day.

The NSE banking and the food/beverages indices, however, closed on the negative side, falling by 0.15 per cent or 0.3 per cent to close at 441.66 and 876.11, respectively.

CAP Plc recorded the highest price appreciation of the day, leading 26 other equities on the chart. It rose by five per cent or N1.70 to close at N35.73 per share.

International Breweries Plc gained 4.9 per cent or 31 kobo to close at N6.54 per share, while Custodian Insurance Plc and Guaranty Trust Assurance Plc appreciated by 4.8 per cent each to close N3.46 and N1.74 per share, respectively.

On the other hand, Ecobank Transnational Incorporated Plc led the price losers, falling by 4.9 per cent or 85 kobo to close at N16.20 per share.

Starcomms Plc lost 4.8 per cent or five kobo to close at 99 kobo per share.

Diamond Bank Plc and Ikeja Hotel Plc shed 4.7 per cent each to close at N8.57 and N1.83 per share in that order.

Meanwhile, the banking sub-sector drove the total volume traded, as activities in the sub-sector accounted for 79 per cent of turnover.

In the sub-sector, investors exchanged 233.59 million shares, worth N1.449bn in 3,514 transactions.

 

Source: Punch