June 16, 2009

Equities’ gains drive market value by N160bn

By Michael Eboh
riven by gains on  the share prices of majority of the quoted companies, the value of listed equities on the Nigerian Stock Exchange (NSE) appreciated, Monday, by N160.08 billion.



In particular, the market capitalisation, representing the value of listed equities, rose by 2.44 per cent to close at N6.708 trillion from N6.548 trillion at which it opened.

Another key market indicator, the All-share index, also dropped by 2.44 per cent or 701.93 basis points to close at N6.708 trillion N6.548 trillion.

Oando Plc recorded the most share price gain, rising by N4.10 to close at N86.27 per share, African Petroleum Plc followed with a gain of N4.01 to close at N94.00 per share and Conoil Plc garnered N2.99 to close at N62.85 per share.
Other share price gainers include: Guinness Nigeria Plc N1.98, Benue Cement Company Plc N1.73, Flour Mills Nigeria Plc N1.45, Nigerian Bottling Company Plc N1.28, First Bank of Nigeria Plc N1.15, Lafarge Cement WAPCO Plc N0.99, Union Bank Nigeria Plc N0.95 among others.

On the contrary, Seven-up Bottling Company Plc recorded the most share price loss, dropping by N1.90 to close at N36.10 per share, Okomu Oil Palm Plc followed with a loss of N1.39 to close at N26.51 per share and Julius Berger Nigeria Plc dipped by N0.92 to close at N36.59 per share.

Other share price losers include: UAC Property Development Company Plc N0.86, PZ Cussons Nigeria Plc N0.82, Dangote Sugar Refinery Plc N0.43, DN Meyer Nigeria Plc N0.42, Evans Medical Plc N0.19, AG. Leventis Plc N0.19, Oasis Insurance Plc N0.18 among others.

Equity trading appreciated by 32.16 per cent, as a turnover of 450.43 million shares valued at N3.86 billion was recorded in 10,168 deals in contrast to Friday’s turnover of 340.82 million shares valued at N2.43 billion in 9,403 deals.

The Banking sub-sector dominated the other sub-sectors, accounting for 53.47 per cent of the market turnover, with 240.86 million shares valued at N2.65 billion in 5,894 deals. First Bank Nigeria Plc recorded the most patronage in the sub-sector, trading 29.34 million shares valued at N707.43 million in 1,263 deals, BankPHB Plc followed with the exchange of 22.11 million shares valued at N204.14 million 274 deals and Diamond Bank Plc recorded 21.75 million shares valued at N210.96 million in 180 deals.

The Insurance sub-sector followed on the sectorial analysis, accounting for 17.3 per cent of the market turnover, with 77.91 million shares valued at N98.77 million in 1,005 deals. Lasaco Assurance Plc emerged the most active in the sub-sector, trading 9.81 million shares valued at N11.47 million in 87 deals, followed by Goldlink Insurance Plc with the exchange of 8.26 million shares valued at N4.85 million in 64 deals and Guinea Insurance Plc recorded 6.56 million shares valued at N7.31 million in 78 deals.