At the close of transactions yesterday, the bulls strengthened their hold on the equities sector as price gains enjoyed by some highly capitalized stocks outweighed price losses, enhancing corporate performance indicators to rise by 0.1 per cent.

Precisely, the All-Share Index, which opened the year at 20,827.17 points closed higher at 20,838.90 points yesterday, while market capitalization increased by N3 billion from N4.989 trillion at the close of transactions in 2009 to N4.992 trillion.

In volume terms, a total of 129.7 million shares worth N700 million changed hands yesterday, 51.4 per cent down from a turnover of 267.2 million shares valued at N1.24 billion traded on Thursday.

On the day's price movement chart, Northern Nigeria Flour Mills Plc led the bulls, up by 109 kobo to close at N22.94 per share, followed by Nigerian Bottling Company Plc with 107 kobo to close at N22.49 per share, while Cement Company of Northern Nigeria Plc added 54 kobo to close at N13.00 per share.

Furthermore, Unilever Nigeria Plc, Dangote Flour Mills Plc, Guaranty Trust Bank Plc, Union Bank of Nigeria Plc, National Salt Company of Nigeria Plc and Flour Mills of Nigeria Plc, all added 50 kobo, 49 kobo, 28 kobo, 25 kobo, 21 kobo, and 20 kobo each to close at N19.00, N10.42, N15.78, N6.25, N4.56 and N36.20 respectively.

On the other hand, two banks' stocks, Ecobank Nigeria Plc and Stanbic IBTC Bank Plc topped the day's price losers' chart with a loss of 53 kobo and 31 kobo each to close a N10.10 and N7.16 respectively.

Following the trail, Vitafoam Nigeria Plc, Eterna Oil and Gas Plc, Poly Products Nigeria Plc, Diamond Bank Plc, Incar Plc and Dangote Sugar Refinery Plc, all shed 28 kobo, 224 kobo, 23 kobo, 21 kobo, 21 kobo and 20 kobo each to close at N5.37, N4.74, N4.45, N7.19, N4.12 and N14.90 respectively.

In volume terms, the banking sub-sector was the most active in volume terms trading 68.1 million shares worth N532.2 million, followed by the insurance sub-sector with 17.9 million shares valued at N11.6 million, while the conglomerates sub-sector ranked third with an exchange of 8.3 million shares worth N12.5 million.

Further review of activities in the sub-sectors showed that the volume in the banking sub-sector was enhanced by combined 24.7 million shares of Guaranty Trust Bank Plc and FinBank Plc, followed by 9.1 million shares of First Bank of Nigeria Plc.

In the insurance sub-sector, the volume was partly boosted by 5.64 million shares of International Energy Insurance Plc worth N3.46 million, followed by 3.82 million shares of Law Union and Rock Insurance Plc valued at N1.99 million.

For the conglomerates sub-sector, the volume of the sub-sector was largely driven by 7.9 million shares of Transnational Corporation Plc valued at N4.1 million.

The Guardian Newspaper, Tuesday January 5, 2010.