Investors' last minute preference for banking stocks last week boosted the weekly cumulative performance of the sector's market index by three percent.

The performance of the four sectoral indices during the week showed that only the NSE banking index appreciated, rising by three percent to closing at N355.32. However, the NSE Food/Beverages index dropped by 0.15 percent closing at 498.41. The NSE Insurance dropped by 4.72 percent to close at 240.70, while the NSE Oil/Gas index lost 1.31 percent to close at 291.21.

Analysis of the weekly price gainers table showed that 31 equities appreciated in price during the week against 37 gainers recorded during the preceding week. UAC of Nigeria led the price gainers with N1.50 closing atN39.50 per share, followed by Skye Bank with N1.42 addition on its share price closing atN6.62 per share while PZ added 89 kobo to close at N24.50 per share.

Cement Company of northern Nigeria gained 85 kobo to close at N13.45 per share, United Bank for Africa (UBA) added 82 kobo closing at N12.46 per share while first bank of Nigeria (FBN) added 77 kobo to close at N14.78 per share. Other top ten gainers during the week are Access Bank, Zenith Bank, Nigerian Breweries and Dangote Flour mills.

The price losers table showed that 61 equities depreciated in value during the week higher than the 59 losers posted in the preceding week. Total Oil Nigeria, led the losers table with N3.40 drop in share price to close at N151.60 per share, followed by Conoil Nigeria with N2.58 loss in price to close at n29.08 per share while Lafarge cement Wapco dropped N1.97 to close at N29.00 per share. Guinness Nigeria lost N1.95 to close at N130.04 per share, Nestle Nigeria lost N1.95, Ecobank Nigeria dropped N1.40 closing at N13.02 per share while Okomu oil gave out N1.19 to close at N22.75 per share.

Other top 10 losers for the week are flour Mills Nigeria, Incar Nigeria and Eternaoil and Gas.

Meanwhile, a turnover of 1.45 billion shares valued at N8.73 billion in 28.9892 deals was recorded last week, in contrast to a total of 1.34 billion shares valued N7.0 billion exchanged by investors in 17.121 deals during the three days trading of the preceding week.

The banking sector was the most active measured by turnover during the week with 788.83 million shares valued at N5.62 billion recorded in 16,416 deals. Volume of the banking subsector was lifted by activity in the shares of Fidelity Bank, Skye Bank and First Bank of Nigeria. Trading in the shares of the three banking stocks accounted for 270.3 million shares representing 34.3 percent of the subsector's turnover.

The insurance sector lifted by activity in the shares of Corner Stone Insurance, Universal Insurance Company flowed in activity during the week with 374.3 million shares valued at N282.53 million traded in 2,376 deals.

The market NSE all- share index appreciated during the week by 0.74 percent to close at 21,374.41. Similarly, market capitalization of the 200 first tier equities closed higher at 5.1 trillion, while the NSE -30 index rose by 0.8 percent to close at 834.73 basis points.