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Conoil leads the bulls, indices surge on the NSE


June 29, 2005/Source The Guardian



The bulls yesterday upstaged the bears that opened the week on the Nigerian Stock Exchange (NSE) on Monday putting up the corporate performance indices by 0.2 per cent.

Specifically, they increased by N5 billion and 48.85 points respectively.

Despite the decrease in the volume of shares exchanged in contrast with the previous day\'s volume by 3.7 million shares, both the market capitalisation and All-share index closed at higher N1.903 trillion and 21,758.63, from the N1.898 trillion and 21,709.78.

The development however, was influenced by both increases in number of the day\'s gains and volume of share that made the gainer\'s chart as against the previous day\'s transaction on the Exchange.

At the end of the day\'s transaction yesterday, the volume of shares traded recorded 47 million shares valued at N619.2 million in 3,580 deals lower than the previous day sale which stood at N737.3 million in 3,633 deals.

Conoil Plc led the bulls up by 615 kobo to close at N129.15 per share followed by Nestle Nigeria Plc with 233 kobo to close at N138.33 per share.

Mobil Oil Nigeria Plc and UAC Nigeria Plc both added 199 kobo and 66 kobo each to close at N152.99 and N13.96 respectively.

On the losers\' chart, Oando Plc, Texaco Nigeria Plc and African Petroleum Plc, all of the petroleum marketing sub-sector shed 317 kobo, 200 kobo and 137 kobo each to close at N87.66, N120.00 and N52.13 respectively.

Cement Company of Northern Nigeria Plc followed with a loss of 291 kobo to close at N7.01 per share followed by Guinness Nigeria Plc with 26 kobo to close at N89.00 per share.

On the activity chart, the banking sub-sector remained the most active in volume terms with an exchange of 26.8 million shares worth N268 million followed by the healthcare sub-sector with 4.1 million shares valued at N10.7 million while the conglomerate sub-sector exchanged 3.8 million shares worth N42.7 million in 378 deals.

Further review of activities in the banking sub-sector showed that activities in the sub-sector was boosted in the shares of Access Bank Plc which exchanged 5.5 million shares worth N18.9 million followed by Intercontinental Bank Plc with 4.7 million shares valued at N28 million in 43 deals.

In the healthcare sub-sector, Ekocorp Plc enhanced the volume of the sub-sector with 2.8 million shares worth N2.4 million while Unilever Nigeria Plc of the conglomerates sub-sector exchanged 1.3 million shares valued at N20.3 million in 139 deals.

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