Leadership<\/a> (Abuja)<\/p>\nChris Ugwu<\/p>\n
22 December 2011<\/p>\n
\nTrading activities on the floor of the Nigerian Stock Exchange(NSE) yesterday sustained bullish rally as Custodian Insurance and Fidelity Bank led other gainers to appreciate the market performance indices.<\/p>\n
Consequently, the All-share Index rose by 297.43 basis points to close at 20,420.23 from 20,122.80 recorded on Tuesday, while the market capitalisation of equities appreciated by N94 billion to close at N6.455 trillion from 6,361 trillion.<\/p>\n
34 stocks recorded gains while 11 others shed weight, Custodian Insurance and Fidelity Bank led on the gainers’ table with a gain 5 per cent each to close at N2.10 and N1.47 per share respectively, while Nestle followed with a gain of N4.99 to close at N445.66 per share.<\/p>\n
However, Scoa Motors led on the price losers’ table, with 4.99 per cent to close at N5.52 per share, while Nigerian German followed with a loss of 4.98 per cent to close at N8.59 per share.<\/p>\n
Meanwhile, a turnover of 341.4 million shares worth N1.3 billion in 3,032 deals was recorded during the day transactions.<\/p>\n
Financial services sector led the market transaction volume with 235 million units valued at N1.073 billion exchanged in 1,707 deals.<\/p>\n
The Insurance sub-sector of the financial services sector was the most active during the day (measured by turnover volume); with 166.1 million shares worth N86 million exchanged by investors in 100 deals.<\/p>\n
Volume in the sub-sector was largely driven by activity in the shares of Custodian Insurance and Guinea Insurance.<\/p>\n
Also, Banking sub-sector of the financial services sector, boosted by activity in the shares of Sterling Bank and Diamond Bank Plc followed with a turnover of 145.2 million shares valued at N714.1 million in 1,637 transactions, while food products subsector of Consumer goods sector recorded a turnover of 615 million shares worth N33.8 million in 196 deals.<\/p>\n
AllAfrica – All the Time<\/p>\n
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