June 17, 2005/Source The Guardian
Price appreciation by few blue chip stocks traded on the floor of Nigeria Stock Exchange (NSE) influenced the return of the bulls yesterday against the bears that ruled the market the previous day causing the corporate performance indices to surge by 0.3 per cent.
Specifically, market capitalisation increased by N7 billion to close the day at N1.904 trillion while All-share index rose by 82.28 points to close at 21,770.98.
At the close of trading yesterday, a total of 50.2 million shares worth N916.4 million were exchanged lower than 68.1 million worth N767.5 million exchanged the previous day, representing a short fall of 17.9 million or 26.2 per cent.
The day\'s trading recorded a total of 4.4 movements with 25 of the stocks on the gainers\' list while 19 companies made the losers\' table.
On the price movement chart, Total Nigeria Plc led the gainers\' chart with 566 kobo to close at N169.00 per share followed by Nigerian Bottling Company Plc with 132 Kobo to close at N152.00 per share.
Ashaka Cement Plc and Texaco Nigeria Plc both added 115 kobo and 101 kobo each to close at N24.15 and N124.01 respectively.
African Petroleum Plc topped the losers\' chart with 250 kobo to close at N50.00 per share followed by Nestle Nigeria Plc with 197 kobo to close at N140.02 per share.
Mobil Oil Nigeria Plc and DN Meyer Plc both shed 49 kobo and 27 kobo each to close at N155.00 and N5.23 respectively.
On the activity chart, the banking sub-sector remained the most active in volume terms with an exchange of 19.8 million shares worth N273.6 million followed by the building materials subs-sector which traded 19.4 million shares valued at N457.2 million while the insurance sub-sector exchanged 2.2 million shares worth N7.1 million in 134 deals
Further review of activities in the banking sub-sector showed that the volume of activities in the sub-sector was boosted partly in the shares of Union Bank Nigeria Plc which exchanged 4.3 million shares worth N107.5 million followed by Guaranty Trust Bank Plc with 3.2 million shares valued at N30.4 million in 229 deals.
Heavy trading in the shares of Ashaka Cement Plc, yesterday enhanced the volume of the building materials sub-sector as it exchanged 18.9 million shares worth N452.1 million while Niger Insurance Company Plc sold 1.1 million shares worth N5 million to boost the volume in the insurance sub-sector.