Nigerian Bank Nigeria Diamond Bank Plc – Market Capitalisation Rises By N22 Billion On The Exchange

Source Guardian Newspaper: Helen Oji, 19 February

DESPITE few stocks that recorded price appreciation, transactions on the Nigeria Stock Exchange closed in an upbeath, causing market capitalisation to rise by N22 billion. Specifically, at close of trading yesterday, the few price gains recorded by some blue chip stocks were enough to push up market indices.

The All-Share Index, which measures the performance of quoted companies, rose by 92.15 points or 0.4 per cent from 23,023.10 recorded on Wednesday to 23,115.25, while market capitalisation appreciated by N22 billion or 0.4 per cent from N5,545 trillion to N5, 567 trillion.

With transactions exchanged in 3,109 deals, the banking sub-sector maintained its dominance in volume terms with 130.3 million shares, worth N967.9 million, followed by the insurance sub sector, which traded 116.1 million units, worth N84.4 million in 5.24 deals.

The conglomerates sub-sector featured with 13.7 million units, worth N71.5 million in 286 deals.

A breakdown of activities in the banking sub-sector showed that Ecobank Plc’s 24.5 million shares, worth N111 million strengthened activities in the sub-sector, followed by Diamond Bank Plc with 21.2 million units, valued at N198.1 million in 145 deals.

The insurance sub-sector was bouyed by activities in the shares of African Alliance Insurance Plc with 50.2 million shares, worth N27.1 million in four deals, followed by Goldlink Insurance Plc with 16.3 million units, worth N8.4 million in 66 deals.

TransNational Corporation dominated in volume terms in the conglomerates sub-sector with 11.3 million shares in 57 deals, while PZ Cussons Plc followed with 1.6 million units, worth N40.9 million.

On the price movement charts, West Africa Portland Company Plc emerged the day’s highest price gainer with 81 kobo to close at N34.99 per share, while United Bank for Africa Plc followed with 60 kobo, to close at N13.60 per share.

African Petroleum Plc, CAP Plc, Diamond Bank Plc, Ecobank Transnational Incorporated Plc, Cadbury Plc, Dangote Sugar Refinery Plc, UPL Plc, Vitafoam Plc, EcoBank Plc added 54 kobo, 51 kobo, 45 kobo, 39 kobo, 35 kobo, 25 kobo, 25 kobo, 22 kobo, and 22 kobo, to close at N38.60, N25.78, N9.50, N16.20, N15.65, N15.55, N5.40 and N4.99, N4.72 per share respectively.

However, Flourmills Plc led others on the losers’ table with 204 kobo, to close at N46.02 per share, while Betaglass Plc followed, shedding 71 kobo, to close at N13.55 per share.

Other losers of yesterday’s transactions include Julius Berger Plc, Nigerian Aviation Handling Company Plc, Custom West Africa Plc, DN Meyer Plc, Air service Plc, Zenith Bank Plc, Fidelity Bank Plc, First City Monument Bank Plc and Unity Kapital Plc, shedding 50 kobo, 31 kobo, 19 kobo, 19 kobo, 15 kobo, 10 kobo, 10 kobo, 10 kobo, and six kobo, to close at N28.00, N8.19, N534, N3.80, N3.04, N15.70, N2.59, N9.35 and N1.27 per share respectively.

Nigerian Bank Nigeria Diamond Bank Plc, Ecobank Plc, Fidelity Bank Plc, First City Monument Bank Plc, Nigeria Stock Exchange, United Bank For Africa Plc, Zenith Bank Plc