A total of 83 stocks recorded price appreciation at the close of
trading activities on the Nigerian Stock Exchange on Wednesday, out of
the 130 stocks traded.
This
brought about further increase in the market indicators with the market
capitalisation of the 294 listed equities rising by N196bn or 3.4 per
cent to close at N5.99tn from N5.79tn the preceding day.
The NSE’s All-Share Index also rose by 866.54 basis points, or 3.4 per cent from 25,473.16 to 26,339.70.
Guinness
Nigeria Plc led on the gainers’ chart, appreciating by N4.61 to close
at N108.40 per share. It recorded a total volume of 487.419 shares,
worth N54.43m in 87 deals.
Three petroleum marketing stocks-
Oando Plc, African Petroleum Plc, and Conoil Plc, followed on the
chart, rising by N4.51, N4.02 and N3.13 to close at N94.86, N85.90 and
N65.85 per share respectively.
Analysts are of the opinion that
the significant increases recorded in the prices of petroleum stocks
can be traced to the rally in global oil prices.
According to them, this has rekindled investors’ interest in the stocks of the petroleum sub-sector.
Only
15 stocks recorded price depreciation, with G.Cappa Plc recording the
highest price loss by shedding N1.08 to close at N20.68.
Nigerian Breweries Plc and DN Meyer Plc also lost N1.03 and 49 kobo to close at N48.47 and N9.39 per share in that order.
The
banking sub-sector continued to lead the activity chart, recording a
total volume of 180.078 million shares, valued at N1.52bn in 3,336
transactions. This represented 48 per cent of total turnover.
Volume
in the sub-sector was driven by trading in the shares of United Bank
Plc and Wema Bank Plc, which accounted for 28 per cent of the
sub-sector’s volume.
The insurance sub-sector followed with 56.73
million shares, worth N53.08m traded in 731 deals. It represented 15
per cent of total volume.
Trading in the shares of Equity
Assurance Plc and Universal Insurance Company Plc drove volume in the
sub-sector, representing 31 per cent. of turnover.
Meanwhile,
Ecobank Transnational Incorporated Plc, which accounted for 54 million
shares worth N448m traded in 164 deals had the most active shares of
the day.
In all, investors staked N3.27bn on 373.697 million shares in 6,683 transactions.
Source: The Punch epaper,thursday 21st May 2009.
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