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Market remains bullish as NB Plc leads gainers

Category: Daily & Weekly Market Updates

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Market remains bullish as NB Plc leads gainers

October 19, 2005/Source The Punch



The bulls sustained their control of the capital market on Tuesday pushing indicators to new highs even as the trading volume also rose.

The Nigerian Stock Exchange All-Share Index and market capitalisation, which rose by 1.0 per cent on Monday appreciated by another 1.1 per cent as the bulls conttinued their rally.

The capitalisation rose by N26bilion from N2.429trillion to close at N2.455trillion, while the index grew by 260.87 to close at 25,405.19. Nigerian Breweries Plc closed as the highest price gainer with 207kobo to close at N43.56 pr share, followed by Mobil Nigeria Plc with a gain of 200kobo to close at N168 per share. Oando Plc chalked up 142kobo, while Seven-Up Bottling Company Plc, Total Nigeria Plc and West Africa Portland Cement Plc garnered 101kobo, 100kobo and 83kobo, respectively.

Other top price gainers included: Ashaka Cement Plc (81kobo), Union Bank of Nigeria Plc (65kobo), UAC of Nigeria Plc and Unilever Nigeria Plc (60kobo each), Cadbury Nigeria Plc (50kobo), Julius Berger Nigeria Plc (40kobo), OkomU Oil Palm Plc (25kobo), CAP Plc (20kobo), WAPIC Insurance Plc and John Holt Plc (15kobo and 13kobo, in that order.

On the other hand, Nestle Nigeria Plc which led the price gainers on Monday shed 350kobo to close as the highest price loser on Tuesday. Presco Plc shed 60kobo to close at N12.20. Cement Company of Northern Nigeria Plc lost 38kobo, just as DN Meyer Plc and CFAO Nigeria Plc depreciated by 21 and 20kobo, respectively.

Berger Paint Plc and Pharma Deko Plc shed 19 kobo each, while Guaranty Trust Bank Plc and Evans Medical Plc dipped by 156kobo apiece.

Other top price losers included: Prestige Assurance Plc (13kobo), Japaul Oil and Maritime Services Plc (11 kobo), AIICO Insurance Plc (nine kobo), R.T Briscoe Nigeria Plc (seven kobo) and UACN Property Development Company Plc (five kobo).

Meanwhile, the volume of shares traded on the NSE rose from 50.552million shares valued at N859.838million in 3,537 deals on Monday to 101.131million shares worth N1.128billion exchanged in 5,142 deals on Tuesday.

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