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Profit taking boost investment value by N320bn

By Providence Obuh
The upward     trend on the Nigerian Stock Exchange (NSE) continued last week as profit taking by investors boost investment value by N319.86 billion.

Specifically equities’ value represented by the market capitalisation went up by 5.49 per cent to close at N6.145 trillion from N5.825trillion at which it opened the week October 15, 2010.

Another key performance indices the All share index appreciated by 5.49 per cent or 1,305.33 bases points to close at 25,077.73 points from 23,772.40 points.

The improvement that has maintained grands in the market was occasioned by highly capitalised stocks of major blue chip companies appreciating in price during the week, higher than the 47 of the penultimate week.

Led by Nestle Nigeria Plc led  with a gain of N36.80 to close at N395.90 per share, Flour Mills Nigeria Plc followed with a gain of N9.20 to close at N70.05 per share and Cadbury Nigeria Plc garnered N6.73 to close at N395.90 per share.

Other share price gainers’ include: PZ Cussons Nigeria Plc N3.77, African Petroleum Plc N3.76, Mobil Oil Nigeria Plc N3.51, Glaxo Smithkline Consumer Nigeria Plc N3.24, Oando Plc N3.24, Guinness Nigeria Plc N3.06, Lafarge WAPCO Nigeria Plc  N2.95, among others.

Conoil Plc led on the price losers’ table, dropping by N1.96 to close at N37.39 per share,  Nigerian Bottling Company Plc followed with a loss of N0.99 to close at N34.01 per share and Cement Company of Northern Nigeria Plc dropped by N0.49 to close at N13.40 per share.

Other share price losers include: Access Bank Plc N0.35, 7-Up Bottling Company Plc N0.30, University Press Plc N0.30, IHS Plc N0.25, Custodian and Allied Insurance Plc N0.20, Capital Hotel Plc N0.14, Vitafoam Nigeria Plc N0.14, among others.

NSE-30 used in measuring the performance of blue chip appreciated by 54.45 points or 5.32 per cent to close at 1,061.79

The NSE Food/Beverage appreciated by 77.64 points or 10.15 per cent to close at 812.94, NSE Banking  appreciated by 20.01 points or 5.6 per cent to close at 373.65, NSE Insurance appreciated by 6.75 points or 4.3 per cent to close at 161.62,  NSE Oil and Gas appreciated by 11.23 points or 3.43 per cent to close at 336.18.

However, trading plunge by 39.9 per cent, a turnover of 1.32 billion shares valued at N11.53 billion was recorded in 27,714 deals, in the week under review in contrast to last week’s turnover of 2.05 billion shares valued at N18 billion in 28,785 deals

The Banking sub-sector was the most active on the sectorial analysis accounting for 10.1per cent of the market turnover with 758 million shares valued at N6.0 billion in 14,608 deals.

Access Bank Plc was the most sought after in the subp-sector trading 134.8 million shares valued at N1.28 billion in 1,224 deals , United Bank for Africa Plc followed with the exchange of 94.13 million shares valued at N892.6 million in 1,143 deals and First City Monument Bank Plc recorded 84.23 million shares valued at N508.7 million in 468 deals.

The Airline Services sub-sector, came behind. on the sectorial analysis accounting for 12.20 per cent of the market turnover with 161.4 million shares valued at N403.72 million in 427 deals.  Airline services and Logistic Plc exchanged 155.1 million shares valued at N345.8 million in 19 deals and Aviation Handling Company Plc recorded 6.277 million shares valued at N57.84 million in 408 deals.

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