Michael Eboh
12 November 2008
The bullish trend in the capital market continued on Monday, as the value of listed equities on the Nigerian Stock Exchange (NSE) appreciated by N136.28 billion.
In particular, the market capitalisation which is the key determinant of the value of listed equities rose by 1.81 per cent to close at N7.67 trillion from N7.54 trillion at which it opened. Another of the market indicators, the All-share index, also rose by the same margin to close at 34,973.05 points from 34,351.81 points.
The rise in the indices was occasioned by gains on the share prices of majority of the listed stocks with Guinness Nigeria Plc recording the highest share price gain, rising by N4.07 to close at N85.60 per share from N81.53 per share at which it opened, followed by Nigerian Breweries Plc with a gain of N1.79 to close at N37.66 per share and Zenith Bank Plc garnered N1.18 to close at N24.83 per share.
Other share price gainers include: First Bank of Nigeria Plc N1.11, UAC Property Development Company Plc N1.00, United Bank for Africa Plc N0.76, BOC Gases Plc N0.76, Dangote Sugar Refinery Plc N0.74, GTBank Plc N0.69, Oceanic Bank International Plc N0.64 among others.
On the contrary, Chevron Oil Nigeria Plc recorded the highest share price loss, dropping by N15.57 to close at N295.84 per share from N311.41 per share, Oando Plc followed with a loss of N7.30 to close at N138.81 per share and Nigerian Bottling Company Plc dipped by N2.03 to close at N38.69 per share.
Other share price losers include: Lafarge Cement WAPCO Plc N1.30, Union Bank Nigeria Plc N1.15, PZ Cussons Nigeria Plc N0.97, Morison Industries Plc N0.79, Unilever Nigeria Plc N0.62, UAC Nigeria Plc N0.44, Ashaka Cement Plc N0.34 among
A turnover of 349.35 million shares valued at 2.65 billion was recorded in 9,046 deals, dropping by 22.8 per cent from Friday's turnover of 452.53 million shares valued at N3.54 billion in 10,049 deals. The Banking sub-sector dominated the other sub-sectors, accounting for 47.94 per cent of the market turnover with 167.51 million shares valued at N1.68 billion in 5,171 deals.
Trading in the sub-sector was driven by activity in the shares of Access Bank Plc with the exchange of 33.23 million shares valued at N268.95 million in 557 deals, followed by First City Monument Bank Plc with a turnover of 29.28 million shares valued at N183.76 million in 256 deals and Fidelity Bank Plc recorded 15.47 million shares valued at N69.52 million in 229 deals.
The Insurance sub-sector followed on the sectorial analysis, accounting for 17.08 per cent of the market turnover with 59.68 million shares valued at N94.01 million in 944 deals. Investment and Allied Assurance Plc recorded the highest patronage in the sub-sector, trading 8.29 million shares valued at N4.14 million in 75 deals, followed by Universal Insurance Plc with the exchange 8.13 million shares valued at N7.76 million in 149 deals and Lasaco Assurance Plc recorded 7.0 million shares valued at N10.01 million in 147 deals
The bullish trend in the capital market continued on Monday, as the value of listed equities on the Nigerian Stock Exchange (NSE) appreciated by N136.28 billion.
In particular, the market capitalisation which is the key determinant of the value of listed equities rose by 1.81 per cent to close at N7.67 trillion from N7.54 trillion at which it opened. Another of the market indicators, the All-share index, also rose by the same margin to close at 34,973.05 points from 34,351.81 points.
The rise in the indices was occasioned by gains on the share prices of majority of the listed stocks with Guinness Nigeria Plc recording the highest share price gain, rising by N4.07 to close at N85.60 per share from N81.53 per share at which it opened, followed by Nigerian Breweries Plc with a gain of N1.79 to close at N37.66 per share and Zenith Bank Plc garnered N1.18 to close at N24.83 per share.
Other share price gainers include: First Bank of Nigeria Plc N1.11, UAC Property Development Company Plc N1.00, United Bank for Africa Plc N0.76, BOC Gases Plc N0.76, Dangote Sugar Refinery Plc N0.74, GTBank Plc N0.69, Oceanic Bank International Plc N0.64 among others.
On the contrary, Chevron Oil Nigeria Plc recorded the highest share price loss, dropping by N15.57 to close at N295.84 per share from N311.41 per share, Oando Plc followed with a loss of N7.30 to close at N138.81 per share and Nigerian Bottling Company Plc dipped by N2.03 to close at N38.69 per share.
Other share price losers include: Lafarge Cement WAPCO Plc N1.30, Union Bank Nigeria Plc N1.15, PZ Cussons Nigeria Plc N0.97, Morison Industries Plc N0.79, Unilever Nigeria Plc N0.62, UAC Nigeria Plc N0.44, Ashaka Cement Plc N0.34 among.
A turnover of 349.35 million shares valued at 2.65 billion was recorded in 9,046 deals, dropping by 22.8 per cent from Friday's turnover of 452.53 million shares valued at N3.54 billion in 10,049 deals. The Banking sub-sector dominated the other sub-sectors, accounting for 47.94 per cent of the market turnover with 167.51 million shares valued at N1.68 billion in 5,171 deals.
Trading in the sub-sector was driven by activity in the shares of Access Bank Plc with the exchange of 33.23 million shares valued at N268.95 million in 557 deals, followed by First City Monument Bank Plc with a turnover of 29.28 million shares valued at N183.76 million in 256 deals and Fidelity Bank Plc recorded 15.47 million shares valued at N69.52 million in 229 deals.
The Insurance sub-sector followed on the sectorial analysis, accounting for 17.08 per cent of the market turnover with 59.68 million shares valued at N94.01 million in 944 deals.
Investment and Allied Assurance Plc recorded the highest patronage in the sub-sector, trading 8.29 million shares valued at N4.14 million in 75 deals, followed by Universal Insurance Plc with the exchange 8.13 million shares valued at N7.76 million in 149 deals and Lasaco Assurance Plc recorded 7.0 million shares valued at N10.01 million in 147 deals.
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