Leadership (Abuja)
Nkiruka Anene
9 November 2009
Lagos — Investors' fortunes in the stock market remained bleak at the opening of transactions in equities sector of the Nigerian Stock Exchange, as activities closed yet on a negative note. Specifically, at the end of trading yesterday, the twin market indicators, market capitalisation and the all-share index went down by N36 billion and 150.32 basis point, or 0.7 per cent each, to close the day at N5.076 trillion and 21,366.97 basis points respectively.
A review of the market activities for the day showed that 34 companies emerged losers on the price movement chart, as against 33 other listed stocks which appreciated in the day. Transactions in the market yesterday, however witnessed an increase in the volume of shares traded, as investors bought 482.4 million ordinary shares valued at N3.6 billion exchanged in 6,140 deals.
Total Plc., led on the flip side with a loss of N8 to close at N152 per share, followed by Conoil Plc., with depreciation of N1.84k to close at N35.7k per share. Flourmill Plc., and NBC Plc., dropped N1.69k and N1.5k to close at N32.18k and N20.14k per share respectively, while Ecobank that closed the list of top five losers, fell by 88k to close at N16.79k per share.
On the other hand, Nestle Nigeria Plc., led on the gainers' chart with N11.79k to close at N247.72k per share, followed by AP Plc., with a N1.59k gain to close at N33.87k per share. Unilever Plc., chalked 95kto close at N20.17k, UAC-Prop rose by 50k to close at N18.50k, while NAHCO that closed the list of top five gainers appreciated by 39k to close at N8.26k per share.
The information and communication technology sub-sector displaced the banking sub-sector on the sectoral chart, trading 214.0 million ordinary shares valued at N860.6 million in 57 deals. The banking sub-sector followed with a traded volume of 171.6 million shares worth N1.525 billion, done in 3,656 deals, while the conglomerate sub-sector closed as the third most traded sub-sector with 30.1million shares worth N494.9 million exchanged by investors in 224 deals. In all, transactions in the day closed with a total volume of 482.4 million shares worth N3.6 billion swapped in 6,140 deals.
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