Breaking News
Translate

NSE commences 2010 on bullish note, share value soars by N3bn

By  Michael  Eboh
Trading on the Nigerian Stock Exchange (NSE) started the year 2010 on a bullish note, as equities’ value on the Nigerian Stock Exchange (NSE) appreciated, Monday, by N2.81 billion.

In particular, the equities’ value, represented by the market capitalisation and All-share index, soared by 0.06 per cent each. The capitalisation which opened the day’s trading at N4.989 trillion, rose by N2.81 billion to close at N4.992 trillion, while the index garnered 11.73 basis points to close at 20,838.90 points from 20,827.17 points at which it opened.

The rise in the key market indices was occasioned by a slight improvement in prices of stocks in the Food/Beverages and Tobacco sub-sector, represented by the NSE Food/Beverage Index which appreciated by 0.43 per cent to close at 528.96 points from 526.71 points at which it opened.

However, the NSE 30 index dropped by 0.07 per cent to close at 827.41 points from 827.99 points at which it opened, major Banking stocks, represented by the NSE Banking Index depreciated by 0.58 per cent to close at 337.35 points while the NSE Insurance index tumbled by 0.01 per cent to close at 248.98 points.

Stocks in the Food/Beverages and Tobacco sub-sector dominated the gainers’ table, led by Northern Nigerian Flour Mills Plc, with a gain of N1.09 to close at N22.94 per share, Nigerian Bottling Company Plc followed with a gain of N1.07 to close at N22.49 per share and Cement Company of Northern Nigeria Plc garnered N0.54 to close at N13.00 per share.

Other share price gainers include: Unilever Nigeria Plc N0.50, Dangote Flour Mills Plc N0.49, GTBank Plc N0.28, Union Bank Nigeria Plc N0.25, National Salt Company Plc N0.21, Flour Mills Nigeria Plc N0.20, Cutix Plc N0.14 among others.

On the contrary, Ecobank Nigeria Plc recorded the most share price loss, dropping by N0.53 to close at N10.10 per share, Stanbic IBTC Bank Plc followed with a loss of N0.31 to close at N7.16 per share and Vitafoam Plc dipped by N0.28 to close at N5.37 per share.

Other share price losers include: Eterna Oil and Gas Plc N0.24, Poly Products Plc N0.23, Diamond Bank Plc N0.21, Incar Plc N0.21, Dangote Sugar Refinery Plc N0.20, Jos International Breweries Plc N0.18, Ashaka Cement Plc N0.16 among others.

Equity trading dipped by 51.44 per cent, as a turnover of 129.76 million shares valued at N699.99 million was recorded in 3,802 deals, in contrast to last Thursday’s turnover of 267.22 million shares valued at N1.24 billion in 5,179 deals. Last Friday was declared as public holiday by the Federal Government of Nigeria to mark the New Year’s day.

The Banking sub-sector dominated the other sub-sectors, accounting for 68.1 million shares valued at N532.19 million in 1,662 deals. GTBank Plc recorded the highest transactions in the sub-sector, trading 12.51 million shares valued at N194.59 million in 251 deals, FinBank Plc followed with the exchange of 12.2 million shares valued at N6.4 million in 99 deals and First Bank of Nigeria Plc recorded 9.05 million shares valued at N126.86 million in 426 deals.

The Insurance sub-sector followed on the sectorial analysis, accounting for 13.83 per cent of the market turnover, with 17.95 million shares valued at N11.64 million in 209 deals.


Disclaimer

Comments expressed here do not reflect the opinions of vanguard newspapers or any employee thereof.