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Nigeria: Equity Trading On NSE Rises By 17 Percent
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Vanguard (Lagos)
2 May 2008
Posted to the web 2 May 2008
Michael Eboh
Lagos
Equity trading on the Nigerian Stock Exchange appreciated on Wednesday by 17.44 per cent. Specifically, a turnover of 810.21 million shares valued at 14.01 billion was recorded in 16,611 deals, in contrast to the previous day's turnover of 689.9 million shares valued at N12.20 billion in 17,963 deals.
The Banking sub-sector dominated the other sub-sectors, accounting for 58.8 per cent of the market turnover with 476.37 million shares valued at N10.83 billion in 8,076 deals.
First Inland Bank Plc recorded the highest patronage in the sub-sector, trading 160.11 million shares valued at N1.75 billion in 342 deals, followed by United Bank for Africa Plc with a turnover of 59.66 million shares valued at N3.20 billion in 530 deals and Access Bank Plc recorded 41.51 million shares valued at N773.2 million in 321 deals.
The Insurance sub-sector followed on the sectorial analysis, accounting for 23.7 per cent of the market turnover with 192.06 million shares valued at N728.17 million in 3,223 deals. Universal Insurance Plc's shares remained the most active in the sub-sector, with a turnover of 90.55 million shares valued at N272.48 million in 1,007 deals, followed by Mutual Benefits Assurance Plc with the exchange of 16.31 million shares valued at N64.3 million in 243 deals and AIICO Insurance Plc recorded 14.98 million shares valued at N83.62 million in 203 deals.
Driven by losses on the share prices of blue chip companies, the All-share index and market capitalisation both dipped by 0.37 per cent each.
Particularly, the index which opened at 59,663.22 points dropped by 222.31points to close at N59,440.91 points while the capitalisation closed at N11.49 trillion from N11.53 trillion at which it opened.
Conoil Plc recorded the highest share price loss, dropping by N5.25 to close at N122.50 per share, from N127.75 per share at which it opened, followed by Guinness Nigeria Plc with a loss of N2.99 to close at N129.51 per share and Lafarge West African Portland Cement Company Plc dipped by 2.84 to close at N54.02 per share.
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Other share price losers include: Eterna Oil and Gas Plc N1.80, Arbico Plc N1.47, Flour Mills Nigeria Plc N1.42, Ashaka Cement Plc N1.24, Unilever Nigeria Plc N1.14, Nigerian Bottling Company Plc N1.00, Premier Paints Plc N0.93 among others.
On the contrary, Oando Plc recorded the highest share price gain, rising by N8.00 to close at sN229.00 per share from N127.75 per share at which it opened, followed by Ecobank Transnational Incorporated Plc with a gain of N3.49 to close at N249.99 per share and Nigerian Breweries Plc garnered N2.00 to close at N51.00 per share.
Other share price gainers include: Dangote Flour Mills Plc N1.33, Afribank Plc N1.05, Glaxo SmithKline Consumer Plc N1.05, Presco Plc N0.85, C & I Lasing Plc N0.71, Benue Cement Company Plc N0.61, First Inland Bank Plc N0.54 among others.
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