Leadership (Abuja)
Justus Nduwugwe
14 November 2008
Abuja — Investors' preference for the shares of banking sub-sector since the resumption of bears market last week saw the sector topping the performance chart in terms of volume and value of equities traded.
Specifically, the sub-sector rallied 259.999 million ordinary shares valued at N3.52 billion exchanged in 7,100 deals, out of 589.95 million shares worth N5.36 billion exchanged in the day in 12,161 deals.
This represents 43.6 per cent of the total transaction recorded.
The insurance sub-sector, led by shares traded in International Energy Insurance and Mutual Benefits Assurance, followed on the sectoral chart, accounting for 190.07 million shares valued at N378.4 million done in 1,054 deals.
Activity on the price movement chart remained on the upsurge with the market capitalisation of listed equities and the all share index rising by 2.2 per cent apiece.
While the market capitalisation rose by N18 billion to close at N8.19 trillion, the all share index notched up by 795.5 basis points to close at 378,333.64 points. They had opened at N8.01 trillion and 36,538.14 points respectively.
Guinness Nigeria Plc led on the gainers table for the third consecutive day, chalking up by N4.71 to close at N99.08 per share, followed by Flourmill which garnered N2.32 to close at N48.83 per share.
7up Bottling company recorded price appreciation of N2.15 to close at N45.18, Nigeria Breweries gained N1.19 to close at N43.48, while Zenith Bank rose by N1.35 to close at N28.49 per share.
On the other hand, Chevron Nigeria Plc lost N14.79 to lead the losers after closing at N281.05 per share. Oando followed with loss of N6.28 to close at N119.02. BCC dropped by N1.85 to close at N35.32, Ashakacem went down by N1.29 to close at N29.20, while Nigeria Bottling Company (NBC) lost N0.99 to close at N37.00 per share.
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