Specifically, at close of transactions, the losers' table was dominated by most blue chip stocks, causing the bears to upstage the bulls that opened the market for the week.

The All-share index and the market capitalisation of all listed companies closed lower, with the capitalisation recording relative loss compared to the significant dip suffered by the index.

The index closed lower at 22,968.21 basis points as against 23,071.66, at which the market opened, representing 0.4 per cent decrease, while the market capitalisation decreased to N5.34 trillion from N5.36 trillion at which it opened. This represents 0.3 per cent decrease.

The decrease in the market capitalisation, in relation to the decline in the index, was as a result of the N9.29 billion newly listed shares in the market.

About 36 listed companies recorded losses as against 43 others that emerged as gainers at the close of transactions, with building materials company, Benue Cement Company Plc leading the gainers' table by 180 kobo to close at N44.00 per share.

Food, beverages and tobacco company, Seven-Up Plc, followed with a gain of 142 kobo to close at N29.92 per share, Flour Mills ranked third with an increase of 101 kobo to close at N23.99 per share, while NBC and foreign listing, Ecobank Transnational Incorporated, gained 94 kobo and 57 kobo to close at N19.89 and N13.80 per share respectively, among other gainers.

Petroleum marketing company, Oando Plc, topped the losers' table with 232 kobo to close at N89.55 per share, Lafarge-Wapco Plc with 169 kobo to close at N32.11 per share. Nigerian Breweries Plc ranked third, losing 140 kobo to close at N54.50 per share, while construction sub-sector's major company, Julius Berger Plc and Glaxosmithkline Consumer Plc dipped by 138 kobo and 126 kobo to close at N26.41 and N23.99 per share respectively, among other losers.

The banking sub-sector remained most attractive, measured by volume, with 367.1 million shares valued at N2.9 billion exchanged in 5,290 deals.

The information and communications technology sub-sector followed on the list with 183.9 million units worth N100 million, in 90 deals.

The insurance sub-sector featured on the sectoral chart with 130.5 million shares, worth N155.8 million in 672 deals.

The Guradian Newspapers, Friday October 9, 2009.