By Providence Obuh

Analysts on the Nigerian Stock Exchange (NSE) has said that AMCOM contribution to the capital market and banks result which are to be released between now and march has made investors patronage on bank stocks high, noting that these factors are the main reason for the market drive.

However, the market indicators for measuring the performance indices the market capitalisation and the All share index appreciated by 3.50 per cent.

Specifically,the capitalisation appreciated by 280.71 billion to close at N8.300 trillion from N8.019 trillion at which it opened, while the index garnered 878.65 bases points to close at 25,981.58 points from 25,102.93 points.

Nigerian Aviation Handling Company Plc led 68 other stocks on the gainers table with a gain of N0.51 to close at N10.71 per share, Beco Petroleum Plc followed with a gain of N0.03 to close at N0.63 per share and Niger Insurance Plc garnered N0.03 to close at N0.63 per share.

On the contrary, Evans Medical Plc led seven other stocks on the losers table N0.05 to close at N1.00, Paints and Coatings Manufacturers Plc followed with a loss of N0.16 to close at N3.20 per share and Total Nigeria Plc dipped by N1.00 to close at N223.00 per share.

A turnover of 510.36 million shares valued at N5.78 billion was recorded in 5,972 deals in contrast to the previous day’s turnover of 236.15 million shares valued at N2.36 million in 4,541 deals.

The Banking sub-sector was the most active on the sectorial analysis accounting for 66.36 per cent of the market turnover with 338.67 million shares valued at N3.76 billion in 3,011deals. Zenith Bank Plc dominated activity in the sub-sector trading 103.66 million shares valued at N1.65 billion in 553 deals, Access Bank Plc followed with the exchange of 65.08 million shares valued at N678.94 million in 189 deals and Diamond Bank Plc recorded 34.89 million shares valued at N288.24 million in 93 deals.

The Food/Beverage and Tobacco sub-sector trailed on the sectorial analysis accounting for 9.39 per cent of the market turnover with 47.91 million share valued at N865.16 million in 588 deals.

Dangote Sugar Refinery Plc recorded the most patronage in the sub-sector trading 37.50 million shares valued at N605.28 million in164 deals, Tantalizers Plc followed with the exchange of 3.18 million shares valued at N1.74 million in14 deals.