By Agency Reporter

For the second time this week and on the first trading day in April, equity trading activities closed positive on Friday as major indicators rose marginally.

Specifically, the market capitalisation of the listed equities rose by 0.5 per cent or N41bn, from N7.867tn, to close at N7.908tn.

Similarly the Nigerian Stock Exchange’s All-Share Index increased by 0.5 per cent or 130.83 basis points to close at 24,752.04, up from 24,621.21 the preceding day.

The NSE-30 Index rose by 0.6 per cent or 6.56 basis points from 1,062.32 to close at 1,068.88 points, while the NSE Food/Beverages Index rose by 0.8 per cent to close at 791.36 points.

The NSE Banking Index rose by the highest margin of one per cent or 3.77 basis points from 392.24 the preceding day, to 396.01 on Friday.

Activities in the banking sub-sector maintained their lead on the activity chart, accounting for 69 per cent of total turnover traded.

In the sub-sector, investors staked N2.48bn on 248.98 million shares, in 2,932 deals. Trading in the shares of United Bank for Africa Plc, Zenith Bank Plc and Diamond Bank Plc drove volume in the sub-sector.

Analysts traced the marginal rise to an appreciation recorded by some blue-chip stocks, which according to them, lifted major indices.

UBA Plc led 23 other stocks on the price gainers’ chart, rising by five per cent or 38 kobo to close at N7.98 per share.

Oando Plc followed on the chart, with a five per cent or N3.15 gain to close at N66.15 per share, while Dangote Sugar Refinery Company Plc was up by 4.9 per cent to close at N13.12 per share.

National Salt Company of Nigeria Plc and Access Bank Plc gained 4.9 per cent and 4.7 per cent to close at N5.51 and N8.53 per share respectively.

On the other hand, Diamond Bank Plc lost the highest, shedding 4.9 per cent or 30 kobo to close at N5.76 per share.

Nigerian Aviation Handling Company Plc also lost 4.9 per cent or 46 kobo to close at N8.84 per share.

Union Bank of Nigeria Plc and Cadbury Nigeria Plc fell by 4.9 per cent each to close at N3.29 and N22 per share respectively, while Intercontinental Bank Plc shed 4.7 per cent to close at N1.40 per share.

In all, investors exchanged 358.36 million shares, worth N3.96bn in 4,699 transactions, compared to 2.72 million shares, valued at N4.45bn traded the previous day, in 4,842 deals.

Source: Punch