By Michael Eboh & Providence Obuh

The Nigerian Stock Exchange (NSE) has announced a postponement of the planned extension of trading hours.
The Extension, which got the approval of the Capital Market Committee (CMC) and which was expected to commence Wednesday, postponed till Monday, December 6, 2010.

The CMC had approved an extension of trading by two hours, from between 9:30am and 2:30pm.The NSE, however, failed to give any reason for the postponement.

Meanwhile, The value of listed equities on the Nigerian Stock exchange (NSE) appreciated by 0.41 per cent or N32.64 billion to close at N7.940 trillion from N7.908 trillion at which it opened.

Another key performance indices the All share index garnered 0.37 per cent or 91.43 bases points to close at 24,856.08 points from 24,794.65 points.

National Salt Company Nigeria Plc recorded the highest per cent on the gainers table with a gain of N0.28 to close at N5.88 per share, Ashaka Cement Plc followed with a gain of N1.19 to close at N26.19 per share, Custodian and Allied Insurance Plc garnered N0.13 to close at N2.91 per share.

On the contrary, African Petroleum Plc led on the losers table dropping by N1.06 to close at N20.22 per share, University Press Plc followed with a loss of N0.34 to close at N6.49 per share and Honeywell Flour Mills Plc dipped by N0.26 to close at N5.04 per share.  A turnover of 194.13 million shares valued at N1.74 billion was recorded in 4,863 deals in contrast to the previous day’s

The Bank sub-sector dominated the other sub-sectors on the sectorial analysis accounting for 67.53 per cent of the market turnover with 131.08 million shares valued at N1.14 billion in 2,951 deals.

Zenith Bank Plc was the most active in the sub-sector trading 27.70 million shares valued at N415.18 million in 424 deals, First Bank of Nigeria Plc followed with the exchange of 15.06 million shares valued at N195.28 million in 711 deals and Finbank Plc recorded 12.83 million shares valued at N10.69 million in 95 deals.

The Insurance sub-sector followed on the sectorial analysis accounting for per cent of the market turnover with 14.32 million shares valued at N12.65 million in 150 deals.  AIICO Insurance Plc recorded the most patronage trading 4.57 million shares valued at N4.07 million in 61 deals, Oasis Insurance Plc followed with the exchange of 3.82 million shares valued at N1.91 million in four deals and Custodian and Allied Insurance Plc recorded 1.27 million shares valued at N3.69 million in 10 deals.