MARGINAL gains recorded by some blue chip stocks, yesterday, strengthened the hold of the bulls on the equities sector of the Nigerian Stock Exchange, as corporate performance indicators rose by 0.6 per cent.

At the close of transactions yesterday, the All-Share Index closed higher at 22,183.80 points from 22,060.36 points recorded on Friday, while market capitalisation of listed equities rose by N30 billion from N5.28 trillion to N5.31 trillion.

In volume terms, a total of 369.5 million shares worth N1.6 billion, changed hands yesterday, up from a volume of 352.8 million shares valued at N2.23 billion exchanged at the close of transactions on Friday.

Accounting for the bulk of transactions yesterday, the banking sub-sector was the most active in volume terms trading 192.6 million shares worth N1.05 billion, followed by the insurance sub-sector with 43 million shares valued at N40.1 million, while the conglomerates sub-sector ranked third with 41 million shares worth N66.1 million.

Further analysis of activities in the sub-sectors showed that the volume in the banking sub-sector was energised by 42.8 million shares of Fidelity bank Plc worth N111.6 million, followed by Bank PHB Plc with 30.4 million shares valued at N60.4 million.

For the insurance sub-sector, the volume was lifted by the combined 21 million shares of Mutual Benefits Assurance Plc, International Energy Insurance Plc, and Lasaco Assurance Plc.

In the conglomerates sub-sector, 39.3 million shares of Transnational Corporation Plc worth N19.8 million, wholly energised the volume in the sub-sector.

On the day's price movement chart, Unilever Nigeria Plc led the bulls, up by 100 kobo to close at N24.50 per share, followed by Benue Cement Company Plc with 80 kobo to close at N50.80 per share, while Ashaka Cement Company Plc added 62 kobo to close at N13.02 per share.

Furthermore, Cadbury Nigeria Plc, First City Monument Bank Plc, National Aviation Handling Company Plc, National Salt Company of Nigeria Plc, Flour Mills of Nigeria Plc, and Zenith Bank Plc, all added 56 kobo, 37 kobo, 28 kobo, 20 kobo and 20 kobo each to close at N12.80, N7.92, N7.82, N6.04, N38.00, and N16.00 respectively.

On the other hand, Northern Nigeria Flour Mills Plc topped the day's price losers chart losing 114 kobo to close at N21.80, followed by Incar Plc with 15 kobo to close at N2.91 per share, while Beco Petroleum Product Plc ranked third with a loss of 12 kobo to close at N2.29 per share.

Similarly, Oceanic Bank International Plc, Red Star Express Plc, Intercontinental Bank Plc, Dangote Flour Mills Plc, Eterna Oil and Gas Plc all shed 12 kobo, 12 kobo, 11 kobo, 11 kobo, and 10 kobo each to close at N2.33, N2.37, N2.23, N13.00 and N6.50 respectively.

The Guardian Newspapers, Tuesday January 19, 2010.