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Bullish trend continues, share value rises by N28bn

By Michael Eboh
The bullish run on the Nigerian Stock Exchange (NSE) continued, Tuesday, as the value of listed equities appreciated by N28.22 billion

In particular, the market capitalisation and All-share index, representing equities’ value, both appreciated by 0.57 per cent each. The capitalisation rose by N28.22 billion to close at N5.020 trillion from N4.992 trillion at which it opened, while the index garnered 117.78 basis points to close at 20,956.68 points from 20,838.90 points at which it opened.

Meanwhile Guaranty Trust Bank (GTBank) Plc emerged the only Nigeria bank listed among the 200 best performing stocks in London.

The bank occupied 180 on list of 200 best performing stocks in United Kingdom (UK) raking 115.5 per cent, according to the London Stock Exchange (LSE) statement.

The ranking was based on the banks’ current performance in 2009.
Downing Protected VCT VII Plc with 4930.0% was on the first position in the ranking, followed by  Norseman Gold Plc.

2985.7%, while  Clerkenwell Ventures Plc 1605.2% occupied third position.There was significant improvement in equity trading,on the NSE as transactions shot up by 91.16 per cent. Specifically, a turnover of 248.06 million shares valued at N1.37 billion was recorded in 6,102 deals, in contrast to the previous day’s turnover of 129.76 million shares valued at N699.99 million in 3,802 deals.

Trading  was driven by activities in the Banking sub-sector, accounting for 51.78 per cent of the total market turnover, with 128.45 million shares valued at N725.41 million in 2,748 deals.

FinBank Plc recorded the highest patronage in the sub-sector, trading 21.6 million shares valued at N11.64 million in 109 deals, followed by First Bank of Nigeria Plc with the exchange of 16.15 million shares valued at N226.8 million in 781 deals and Stanbic IBTC Bank Plc recorded 14.8 million shares valued at N108 million in 44 deals.

The Insurance sub-sector followed on the sectorial analysis, accounting for 6.68 per cent of the market turnover, with 16.58 million shares valued at N13.46 million in 275 deals.

Stocks of NEM Insurance Plc enjoyed the most patronage in the sub-sector, trading 5.77 million shares valued at N3.2 million in 41 deals, International Energy Insurance Plc followed with the exchange of 2.07 million shares valued at N1.2 million in 26 deals and Guaranty Trust Assurance Plc recorded 1.98 million shares valued at N4.28 million in 28 deals.Mobil Oil Nigeria Plc recorded the most share price gain, rising by N1.15 to close at N99.95 per share, Benue Cement Company Plc followed with a gain of N0.59 to close at N43.60 per share and Guinness Nigeria Plc garnered N0.57 to close at N128.07 per share.

Other share price gainers include: Dangote Flour Mills Plc N0.52, Access Bank Plc N0.31, Flour Mills Nigeria Plc N0.30, Eterna Oil and Gas Plc N0.23, National Salt Company Plc N0.22, Ashaka Cement Plc N0.21, Diamond Bank Plc N0.19 among others.

On the contrary, Cadbury Nigeria Plc recorded the most share price loss, dropping by N0.52 to close at N9.97 per share, RT. Briscoe Plc followed with a loss of N0.30 to close at N5.85 per share and Union Bank Nigeria Plc dipped by N0.30 to close at N5.95 per share.Other share price losers include: Union Dicon Salt Company Plc N0.30, Vitafoam Plc N0.26, Tripple Gee and Company Plc N0.24, Incar Plc N0.20, Unity Kapital Assurance Plc N0.11, Fidelity Bank Plc N0.10, GTBank Plc N0.08 among others.


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