Investors stake N10b on equities in bullish trading

TRANSACTIONS on the floor of the Nigerian Stock Exchange (NSE) was on the up beat yesterday as 881.7 million shares valued at N9.6 billion changed hands, up from 484.7 million shares worth N6.6 billion on Tuesday

The indices of corporate performance also surged as the market capitalisation closed higher at N6.782 trillion while the All-share index closed at 47,262.30 points from 47,067.34 points yesterday.

The banking sub-sector was the most active in volume terms with 535.09 million shares valued at N6.8 billion.

It was followed by the insurance sub-sector with 136.3 million shares valued at N450.4 million while the food beverages and tobacco sub-sector took the third position with 14.4 million shares worth N687.5 million.

The banking sub-sector was buoyed by 311.2 million First City Monument Bank Plc's shares valued at N3.2 billion, while 76.4 million Standard Alliance Insurance shares and 10.6 million Dangote Sugar Refinery Plc shares valued at N238.3 million and N560.2 million, respectively enhanced the volume in the Insurance and Food Beverages and Tobacco sub-sectors.

Ecobank Transnational Incorporated led the bulls with 800 kobo appreciation to close at N173.00 per share, followed by Chevron Oil Nigeria Plc and Mobil Oil Nigeria Plc with 720 kobo and 614 kobo to close at N171.00 and N170.00.

Nigerian Aviation Handling Company Plc, Zenith Bank Plc and Conoil Nigeria Plc also gained 288 kobo, 235 kobo and 190 kobo to close at N60.55, N49.38 and N73.00 while Union Bank Nigeria Plc, Cement Company of Northern Nigerian Plc and RT Briscoe completed the top gainers' with 160 kobo, 145 kobo and 135 kobo to close at N34.60, N30.45 and N30.45 per share.

On the other hand, Nestle Nigeria Plc emerged the leader on the losers' chart with 1100 kobo loss to close at N229.00 per share.

Guinness Nigeria Plc, Dangote Sugar Refinery Plc, Ashaka Cement Company Plc and UACN Plc followed with 651 kobo, 278 kobo, 247 kobo and 170 kobo to close at N128.99, N52.82, N75.51 and N33.50.

Other losers' include Northern Nigerian Flour Mills Plc, UAC-Property Development Plc and West African Portland Company Plc with 154 kobo, 145 kobo and 139 kobo to close at N29.34, N27.55 and N65.50, respectively.

To interact with stock experts/analyst and share your own ideas, quickly join to become member of nairakobo forum and started posting today. Registration is free.

nairakobo forum is an Investor's friend.

Once again, you are welcome to nairakobo forum..
see you there....