Leadership (Abuja)
Nkiruka Anene
11 November 2008
Investors of the Nigerian Stock Exchange (NSE) may have reasons to be heaving a sigh of relief after months of down turn as activities on the stock market still remained on the up rise at the end of Monday transactions.
Specifically, the market capitalisation of listed equities gained another N136 billion to close at N7.672 trillion from Friday's figure of N7.536 trillion. This represents 1.8 per cent improvement over the previous day's figure.
Similarly, the all share-index rose by 621.24 points basis or 1.8 per cent increase to close at 34,973.05 points form 34,351.81 points.
Operators said that investors are gradually regaining confidence in the market.
The rise in the market indicators was as a result of gains recorded by 59 companies within the day. Guinness Nigeria Plc led the host of other gainers appreciating by N4.07 to close at N85.60 per share, followed by Nigerian Breweries with price gain of N1.79 to close at N37.66. Zenith Bank gained N1.18 to close at N24.83, First Bank went up by N1.1 to close at N23.32, while UAC-Prop appreciated by N1.00 to close at N24.00 per share.
On the other hand, 25 companies recorded price loss with Chevron leading them with N15.57 to close at N295.84 per share, followed by Oando Plc which lost N7.30 to close at N138.81 per share.
Nigeria Bottling Company (NBC), Wapco and United Bank of Nigeria (UBN) followed, losing N2.03, N1.30 and N1.15 to close at N38.69, N28.60 and N21.93 in that order.
The banking sub-sector emerged the investors' toast as it traded 167.5 million shares worth N1.7 billion exchanged by investors in 5,171 deals. The insurance sub-sector trailed behind with traded volume of 59.7 million ordinary shares valued at N94.01 million done in 944 deals.
The day ended with investors buying 349.35 million shares valued at N2.65 billion exchanged in 9,046 deals.
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