Oil stocks lead gainers as market cap dips


April 26, 2006/punch




Petroleum stocks led the gainers on Tuesday at the Nigeria Stock Exchange as the value of traded stocks dropped by N195million to N939.9million, from N1.134billion traded on Monday.

Texaco Nigeria Plc, Total, African Petroleum and Mobil gained 399 kobo, 22 kobo, 184 kobo and 181 kobo, respectively, to close at N100, N190.20, N39.11, N159.99 in that order.

Other gainers include, Ashaka Cement (122kobo), Flour Mills of Nigeria Plc (95kobo), Presco (52kobo), UAC Property (43kobo), Cement Company of Northern Nigeria (30kobo) and UACN (29kobo).

Nigerian-German Chemicals Plc, GlaxoSmithkline, IBTC Union Homes, DN Meyer, Berger Paints and West African Portland Cement also appreciated by 20kobo, 20kobo, 19kobo, 15kobo, 14kobo, 13kobo and 10kobo, respectively.

On the losers’ side, Nigerian Bottling Company Plc, Oando Plc, Julius Berger Plc and UBA Plc topped the table, dropping 139kobo, 120kobo, 107kobo and 67kobo in that order.

Conoil, Ecobank, 7Up, Nigerian Breweries, Intercontinental Bank and Nampark Nigeria Plc also dropped 51kobo, 32kobo, 21kobo, 19kobo, 15kobo and 12kobo, respectively.

As usual, the banking sector led in terms of trading volumes as 54,012,988 shares valued at N528.7million exchanged hands in 2,582 deals.

Guaranty Trust Bank shares accounted for N146.6million of the total value of the sector shares traded, followed by First Bank of Nigeria Plc with N138.5million.

In the breweries sector 2,078,307 shares valued at N98.07million were traded in 426 deals with Nigerian Breweries leading by volume and value as 1,546,113 shares valued at N50.7million were traded in 328 deals.

In all, 80,676,848 shares valued at N933.9million exchanged hands in 4,704 deals on Tuesday.

The NSE All Shares index was almost flat at 23,276.36, compared with Monday’s that closed at 23,276.41 while the market capitalisation dipped by N4.8billion to close at N2,601trillion, down from N2,605trillion as at Monday.

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