1 November 2006

Nigeria: Ecobank Transnational Leads Price Gainers' Chart

Ecobank Transnational Incorporated's shares on the Nigerian Stock Exchange (NSE) Monday emerged top on the price gainers' chart appreciating by N7.00 per share to close at N198.00 per share. The company which is the only one listed equity on the foreign sub-sector of the NSE was quoted earlier in the year at N337.73 per share

Mobil Oil Nigeria Plc followed on the gainers table with N6.50 per share to close at N190.00 per share and Oando Nigeria Plc garnered N2.01 per share to close at N74.00 per share.

Other share price gainers include Cadbury Nigeria Plc N1.00, R.T. Briscoe Nigeria Plc N0.49, Union Dicon Salt Plc N0.45, Access Bank Plc N0.31, Seven-up Bottling Company Plc N0.30, May & Baker Nigeria Plc N0.29, First Bank Nigeria Plc N0.24 among others.

On the contrary, Conoil Nigeria Plc recorded the highest share price depreciation as its share which opened at N63.50 per share lost N3.05 per share to close at N60.45 per share, followed by Nestle Nigeria Plc dropping by N2.75 to close at N211.00 per share and Chevron Oil Nigeria Plc with a loss of N2.35 to close at N150.00 per share. Other share price losers' include Nigerian Breweries Plc N2.01, African Petroleum Plc N2.00, West African Portland Cement Company Plc N2.00, Benue Cement Company Plc N1.90, United Bank for Africa Plc N1.38, Unilever Nigeria Plc N0.75, UAC Property Development Company Plc N0.57 among others. The performance indicators continued to decline as the market capitalization which opened at N4.07 trillion dropped by 0.98 per cent to close at N4.03 points while the All-share index which opened at 32,652.07 points dropped by 0.09 points to close at 32,651.98 points.

A dip was recorded in trading activity with a turnover of 81.57 million shares valued at N1.46 billion in 5,582 deals representing a 35.58 per cent drop from Friday's turnover of 126.66 million shares valued at N2.08 billion in 7,182 deals.

The Banking sub-sector continued to dominate other sub-sectors in terms of traded volume recording a turnover of 56.03 million shares valued at N638.47 million in 2,935 deals. Fidelity Bank Plc was the most active in the sub-sector with the trading of 11.39 million shares valued at N23.90 million in 146 deals, followed by Guaranty Trust Bank Plc with 7.29 million shares valued at N124.43 million traded in 343 deals and IBTC Chartered Bank Plc exchanged 7.27 million shares valued at N49.49 million in 194 deals. The Building Materials sub-sector followed on the sectorial analysis with a turnover of 6.09 million shares valued at N311.42 million in 653 deals.

West African Portland Cement Company Plc's share was the most sought after in the sub-sector with the trading of 3.16 million shares valued at N190.01 million in 309 deals, followed by Ashaka Cement Plc recording 1.15 million shares valued at N63.10 million in 102 deals and Benue Cement Company Plc with 1.11 million shares valued at N43.87 million in 155 deals.

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