Market capitalisation gains weight by 1.5 per cent
August 4, 2009
THE bulls continued to upstage the bears on the trading floor of the Nigerian Stock Exchange (NSE) yesterday, following major price gains by blue chip stocks, pushing market indices further by 1.5 per cent.
Analysts attributed the continuous rise in indices to the provision of margin loan by banks, in accordance with the Central Bank of Nigeria's directive.
According to them, investors' confidence has been restored as both local and foreign investors are coming back to the market to invest.
Specifically, at the re-opening of the market yesterday, price gainers outweighed losses, as 51 stocks recorded price appreciation while 24 constituted the losers' table.
Precisely, corporate performance indices, the All-share index of the Exchange rose by 398.55 points or 1.5 per cent from 25,286.61 recorded on Friday to 25,685.16 while market capitalisation appreciated by N91 billion, from N5,796 trillion to N5,887 trillion.
Nestle Nigeria Plc topped the day's gainers' table with 401 kobo, to close at N175.01 per share.
Oando Nigeria Plc followed, adding 201 kobo, to close at 93.01 per share. Total Nigeria Plc, UACN Plc, Dangote Sugar Refinery Plc featured, adding 199 kobo, 180 kobo and 91 kobo, to close at N160.00 N37.81 and N18.16 per share.
Other major gainers include First Bank Plc, UBN Plc, Ashaka Cement Plc, Unilver Plc, Flourmill Plc, Nigeria Aviation Handling Company Plc, West African Portland Company Plc and CCNN Plc with 80 kobo, 69 kobo, 68 kobo, 65 kobo, 55 kobo, 55 kobo, 43 kobo and 41 kobo, to close at N16.80, N14.67, N14.38. N13.90, N24.55, N11.68, N31.30 and N8.70 per share.
However, Guinness Nigeria Plc emerged the highest price loser shedding 199 kobo, to close at N136.01 per share while, Nigerian Breweries Plc followed, shedding 44 kobo, to close at N52.06 per share.
Red Star Express Plc, AG Leventis Plc, Big Treat Plc, Japaul Oil & Maritime Plc, Nigerian Bags Manufacturing Company Plc, Niger Insurance Plc and Livestock Feeds Plc also loss 17 kobo, 11 kobo, 9 kobo, 8 kobo, 7 kobo, 7 kobo and 7 kobo, to close at N3.33, N2.13, N1.81, N1.57, N1.95, N1.49 and N1.35 per share.
With transactions done in 3,601 deals, the banking sub-sector maintained its dominance in volume terms with 168.5 million shares worth N1.5 billion while the insurance sub-sector followed with 70.5 million shares, valued at N64.2 million in 799 deals.
The information communication & telecommunication sub-sector featured with 18.6 million shares, worth N35.1 million in 123 deals.
Zenith Bank Plc dominated in volume terms in the banking sub-sector with 27 million shares worth N403 million in 269 deals while Skye Bank Plc followed with 22.8 million units, worth N144 million in 246 deals.
The insurance sub-sector was boosted by activities in the shares of International Energy Insurance Plc, which traded 26.5 million shares worth N25.9 million in 139 deals while Consolidation Hallmark Insurance Plc followed with 10.5 million shares, worth N5.5 million in 40 deals.
In all, 324.9 million shares, worth N2.4 billion were exchanged on 6,924 deals by investors.
The Guardian Newspaper, Tuesday August 4, 2009
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