Performances of Zenith Bank, First Bank, others buoy indices on the Exchange
July 29, 2009
IMPROVED corporate performances buoyed demand for equities on the Nigerian Stock Exchange, pushing market indices further by 1.7 per cent.
Precisely, at the close of trading yesterday, the gainers' chart was dominated by virtually all the blue chip companies as 59 of them recorded price appreciation, while less capitalised ones, comprising of 22 stocks constituted the losers' table.
Specifically, corporate performance indices, the All-Share index of the exchange rose by 370.37 points or 1.4 per cent from 24,597.08 recorded on Monday to 24, 967.45, while market capitalisation increased by N100 billion or 1.7 per cent from N5.6 trillion to N5.7 trillion.
The banking sub-sector dominated in volume terms with 304 million shares worth N2.4 billion in 5,515 deals, while the insurance sub-sector followed with 65.9 million units worth N63 million, in 837 deals.
The information communication telecommunication sub-sector featured with 35.5 million shares worth N34.1 million in 197 deals.
Zenith Bank Plc dominated in volume terms in the banking sub-sector with 39.6 million shares worth N529.5 million in 242 deals. First Bank of Nigeria Plc followed with 37.9 million units worth N603.3 million in 1,742 deals.
International Energy Insurance Plc dominated in the insurance sub-sector with 19.3 million shares worth N19.5 million, in 108 deals, while AIICO Insurance Plc followed with 15.3 million units worth N15.6 million, in 391 deals.
The information communication and telecommunication sub-sector was strengthened by activities in the shares of Chams Nigeria Plc, which traded 25.3 million shares, worth N15.4 million, in 131 deals, while Starcomms Plc followed with 6.5 million units, valued at N16.8 million in 33 deals.
Further analysis of yesterday transaction showed that Benue Cement Company of Nigeria Plc emerged the day's highest price gainer with 198 kobo, to close at N41.67 per share, while Nestle Nigeria Plc followed with 175 kobo to close at N171.00 per share.
Seven Up Nigeria Plc, Flour Mill Plc, Guinness Nigeria Plc, GlaxoSmithKline Plc, Julius Berger gained 162 kobo, 104 kobo, 100 kobo, 80 kobo and 79 kobo to close at N34.17, N23.00, N136.00, N16.98 and N29.79 per share.
Other major gainers include First Bank of Nigeria Plc, EcoBank TransNational Incorporated Plc, Zenith Bank Plc, United Bank for Africa Plc, Ashaka Cement Plc, Nigeria Aviation Handling Company Plc (NAHCo) and Dangote Sugar Refinery Plc, adding 72 kobo, 70 kobo, 63 kobo, 60 kobo, 56 kobo 45 kobo and 40 kobo to close at N16.45, N14.87, N13.35, N12.74, N11.95, N9.62 and N16.60 per share.
However, Oando Nigeria Plc led others on the losers' table with 219 kobo to close at N97.00 per share. Nigerian Breweries Plc followed, shedding 200 kobo to close at N56.00 per share.
Unilever Plc, UAC-Properties Plc, CCNN Plc, Intercontinental Bank Plc, Nigerian Bottling Company Plc (NBC), UBN Plc and PZ Cussons Plc also loss 59 kobo, 45 kobo, 38 kobo, 38 kobo, 21 kobo, 21 kobo and 20 kobo to close at N12.62, N16.05, N7.57, N7.28, N25.79, N13.40 and N20.50 per share
The Guardian Newspaper, Wednesday July 29, 2009
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