Uche Obike
21 September 2006
Lagos — The value of the nation's stock market appreciated yesterday by N37 billion or 0.9 per cent, from N4.144 trillion to N4.181 trillion.
This performance of the market capitalization of the Nigerian Stock Exchange (NSE) reflected the improvement on the prices of equities during the trading session.
Analysts believed that the increase in the prices of equities impacted positively on the performance of the market capitalization.
Another key market indicator, the all - share index rose by 0.9 per cent from 33,040.13 to 33,333.64.
Meanwhile, the stock market recorded a total of 134.902 million ordinary shares worth N2.266 billion exchanged in 8,728 deals, as against a total of 133.928 million ordinary shares valued at N2.134 billion exchanged in 6,710 deals.
The top 10 stocks in the market yesterday in terms of volume accounted for approximately 69.39 per cent of the total volume of shares traded worth about 48.68 per cent of the aggregate value of transactions executed.
Activity performance chart of the stock market activities revealed that the banking subsector came tops as the most active in terms of volume of traded shares. The subsector recorded a total 104.897 million ordinary shares worth N1.204 billion executed in 4,060 deals.
The five most active banking stocks included Wema Bank Plc that traded in 177 deals, a total of 23.791 million ordinary shares worth N77.812 million exchanged at N3.44 per share, while it was followed by Oceanic Bank International Plc which recorded a total of 12.417 million ordinary shares worth N162.925 million exchanged in 238 deals, at N12.98 per share.
Also, United Bank for Africa Plc came next on the chart with a total 11.906 million ordinary shares worth N282 million made in 587 deals, at N24.00 per share, while Access Bank Plc followed with a total of 9.138 million ordinary shares valued at N27.372 million executed in 284 deals, at N3.01 per share. Fidelity Bank Plc came next with a total of 8.150 million ordinary shares valued at N19.433 million made in 160 deals, at N2.40 per share.
Topping the price gainers' chart was Nestle Nigeria Plc with N5.00 to close at N215.00 per share.
Other top price gainers included Texaco Nigeria Plc (N4.84), West African Portland Company Plc (N3.08), Cadbury Nigeria Plc (N2.99), 7Up Bottling Company Plc (N2.58), Nigerian Bottling Company Plc (N1.79), Benue Cement Company Plc (N1.77), Zenith Bank Plc (N1.15), Okomu Oil Palm Plc (N1.07), Union Bank of Nigeria Plc (N1.00), United Bank for Africa Plc (99 kobo), Cement Company of Northern Nigeria Plc (61 kobo), Conoil Plc (50 kobo), Afribank Nigeria Plc (47 kobo), UAC Property Development Company Plc (42 kobo), Ecobank Nigeria Plc and Ashaka Cement Plc (31 kobo apiece), Union Dicon Salt Plc (19 kobo), Neimeth International Pharmaceuticals Plc (18 kobo), Dunlop Nigeria Plc (17 kobo), Wema Bank Plc (14 kobo), Eterna Oil and Gas Plc and University Press Plc (13 kobo apiece), Nigeria - German Chemicals Plc and First Inland Bank Plc (10 kobo apiece).
However, Mobil Oil Nigeria Plc emerged the highest price loser of N9.00 to close at N187.00 per share. Other top price losers included Ecobank Transnational Incorporated (ETI) and Total Nigeria Plc (N4.00 apiece), Oando Plc (N2.99), Julius Berger (Nigeria) Plc (N2.00), Flour Mills Nigeria Plc (N1.05), UAC of Nigeria Plc (77 kobo), African Petroleum Plc (51 kobo), PZ Industries Plc (41 kobo), Guinness Nigeria Plc (40 kobo), Presco Plc (37 kobo), Unilever Nigeria Plc (30 kobo), IBTC Chartered Bank Plc (26 kobo), First City Monument Bank Plc (25 kobo), Berger Paints (Nigeria) Plc (19 kobo), Nampak Plc (18 kobo), First Bank of Nigeria Plc (14 kobo), Evans Medical Plc, Royal Exchange Assurance Plc and Oceanic Bank International Plc lost 13 kobo each.
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