Nigerian Bank Nigeria Access Bank Plc – Market Capitalisation Rises By N29 Billion On The Exchange

Source Guardian Newspaper: Helen Oji, 9 March 2010

PRICE gains outweighed losses at the reopening of transactions yesterday on the trading floor of the Nigerian Stock Exchange, following heavy share price gains recorded by highly capitalised stocks, as market indices rose by N29 billion.

Volume of shares traded, however, dropped significantly, as 214.5 million shares worth N1.8 billion was exchanged in 5,667 deals, lower than 443.8 million units worth N4.2 billion traded in 5,889 deals on Friday.

Specifically, at close of transactions yesterday, 34 companies, comprising blue chip stocks, appreciated in price, while 28 less capitalised ones constituted the losers’ table.

Precisely, corporate performance indices or All-share index of the Exchange increased by 123.4 points or 0.5 per cent, from 22,923.91 recorded when the market closed on Friday to 23,047.31, while market capitalisation appreciated by N29 billion or 0.5percent, from N5,521 trillion to N5,550 trillion.

On the price movement chart, one of the breweries sub-sector giant, Nigerian Breweries plc emerged the day highest price gainer, adding, 285kobo, to close at N59.90per share. UACN Plc followed, adding 191 kobo, to close at N44.50 per share. Stanbic IBTC Plc, RT Briscoe Plc, Vitafoam Plc, EternaOil Plc, Berger plc, Presco Plc, Capital Hotel Plc gained 42 kobo, 25 kobo, 23 kobo, 20 kobo, 19 kobo, 17 kobo and 16 kobo, to close at N8.87, N5.28, N4.93,6.50, N4.06, N5.60 and N3.37 per share.

United Bank for Africa Plc, C and I Leasing Plc, FirstBank of Nigeria Plc, Ecobank Plc , First City Monument Bank plc, Access Bank Plc, Sterling Bank Plc, Starcomms Plc, African Petroleum Plc, Zenith Bank plc, Aiico insurance and FTN Cocoa plc also added 15 kobo, 13 kobo, 11 kobo, 10 kobo, 10 kobo, nine kobo, ninekobo, eight kobo, six kobo, five kobo, five kobo and four kobo, to close at N13.15,N2.75,N14.61,N5.40,N9.15, N9.60, N1.89, N1.97, N40.56, N15.75, N1.08 and N0.98 per share respectively.

On the other hand, PZ Cussons Plc led others on the losers’ table with 40 kobo, to close at N26.OOper share while Nigerian Aviation Handling Company Plc followed, shedding 29 kobo, to close at N8.60 per share.

Diamond Bank Plc, Unilever plc, AfriBank plc, Intercontinental Bank Plc, Skye Bank plc, UBN Plc, Fidson Healthcare Plc, Oceanic Bank Plc Neimeth Pharmaceutical Plc, UNTL Plc, Dangote Flourmills Plc and Fidelity Bank Plc also shed 22 kobo, 19 kobo, 11 kobo, 10 kobo, 10 kobo, 10kobo, nine kobo, nine kobo, seven kobo, seven kobo, six kobo and five kobo, to close at N8.50, N25.00, N2.24, N1.98, N6.90, N5.75, N2.28, N2.01, N1.40, N1.42, N12.84 and N2.51 per share respectively.

On the activity chart, the banking sub sector remains the most active in volume terms with 125.9 million shares, worth N1.3 billion in 2,987 deals, while the insurance subsector followed with 24 million shares worth 21 million in 440 deals.The conglomerates sud sector ranked third with 23.2 million shares worth N88.5 million in 239 deals.

Diamond Bank plc dominated in volume terms in the banking subsector with 21.5 million shares worth N182.9 million, followed by Guaranty Trust Bank plc with 18.9 million units worth N343 million in 458 deals.

Nigerian Bank Nigeria Access Bank Plc, Afribank Plc, Diamond Bank Plc, Fidelity Bank Plc, First City Monument Bank Plc, Guaranty Trust Bank Plc, Intercontinental Bank Plc, Nigeria Stock Exchange, Oceanic Bank Plc, Stanbic IBTC plc, Sterling Bank plc, Zenith Bank Plc