MARKET CAPITALISATION SLIDES FURTHER BY N14B ON THE EXCHANGE

Wednesday - November 4, 2009


The Nigerian Stock Exchange (NSE) yesterday, closed on a moderate note occasioned by investors' interest on the shares of some banks as 688.7 million shares worth N3.2 billion changed hands in 5,779 deals over 388.8 million shares valued at N3.1 billion exchanged in 5,676 deals on Tuesday.

The development, however, forced the equity sectors to further decline by 0.3 per cent.

As at the close of transactions, the banking sub-sector dominated in volume terms with 582.7 million shares worth N2.3 billion in 3,187 deals. The insurance sub-sector followed with traded volume of 36.32 million shares worth N27.84 million exchanged by investors in 364 deals, while the computer & office equipment ranked third with 13.3 million shares worth N6.7 million in 13 deals.

Oceanic Bank propelled volume in the banking sub-sector as investors bought 394.21 million shares valued at N816 million in 96 deals, followed by Diamond Bank with 29.2 million units worth N203.2 million in 118 deals.

Trading in the shares of AIICO Insurance Plc lifted activities in the insurance sub-sector with 8.1 million shares worth N6.9 million, while Standard Alliance followed with 7.9 million ordinary shares valued at N6.8 million, which changed hands in 48 deals.

Omatek Ventures enhanced activities in the computer & office equipment with 13.3 million shares valued at N6.6 million in 11 deals.

Also, corporate performance indices, the All-share index of the Exchange fell by 60.71 basis points or 0.3 per cent from 21,263.30 points recorded on Tuesday to 21,202.59 points, while market capitalisation slide by N14 billion to close at N5.002 trillion from N5.016 trillion.

On the price movement chart, 45 companies depreciated in price to further depress the indicators, while 24 stocks occupied the gainers' table in the day.

Food manufacturing giant, Flourmill Nigeria Plc led the losers chart, dropping by 187 kobo to close at N35.65, followed by African Petroleum, which lost 169 kobo to close at N32.36 per share.

Other share losers' on the top five categories include; Julius Berger with loss of 134 kobo to close at N25.57; Ecobank 92 kobo to close at N17.67, while Nigerian Breweries and Niger Ropes declined by 50 kobo apiece to close at N53.50 and N9.62 respectively.

Also, Unilever Plc led the gainers' for the second day running, appreciating 83 kobo to close at N17.44, while Guaranty Trust Bank chalked up by 65 kobo to close at N15.90 per share. Lafarge WAPCO gained 55 kobo to close at N30.00; DangSugar went up by 50 kobo to close at N15.50, while Benue Cement Company (BCC) added 47 kobo to close at N42.50 per share.

Source: www.ngrguardiannews.com