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<\/a><\/p>\nKayode Ogunwale<\/p>\n
23 December 2011<\/p>\n
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Lagos \u2014 Trading activities on the floor of the Nigerian Stock Exchange (NSE) yesterday continued with the impressive run to maintain its gaining streak as intense bargain activities further contributed to the positive market earlier recorded while market breadth added more weight.<\/p>\n
Equity market sustained uptrend for the fifth consecutive trading day as market capitalization of 199 first-tier equities appreciated by N245 billion which is 3.9 per cent to close at N6.514 trillion, while the key benchmark indices increased by 776.08 basis points also representing 3.9 per cent to close at 20,604.48. Four out of the five NSE sectoral indices closed positive after the trading.<\/p>\n
In the meantime, a turnover of 479 million shares worth N2.455 billion in 3,659 deals was recorded during the day.<\/p>\n
Financial services sector led the market transaction volume with 326 million units valued at N1.317 billion exchanged in 2,276 deals.<\/p>\n
The banking sub-sector of the financial services sector was the most active during the day (measured by turnover volume); with 310 million shares worth N1.304 billion exchanged by investors in 2,161 deals.<\/p>\n
Volume in the banking sub-sector was largely driven by activity in the shares of Fidelity Plc, UBA Plc and Access Bank Plc.<\/p>\n
Also, insurance sub-sector of the financial services sector, was boosted by activity in the shares of Continental Re-Insurance Plc, followed by Guaranty Trust Assurance Plc and Intercontinental Wapic Insurance Plc.<\/p>\n
However, Guinness Nigeria Plc led on the gainers’ table with a gain of N10.00 kobo to close at N240.00 kobo per share while Nigerian Breweries Plc followed with a gain of N5.00 kobo to close at N105.00 kobo per share and UACN Plc gained N0.90 kobo to close at N30.00 kobo per share.<\/p>\n
On the other hand, 7-Up Plc led on the price losers’ table, dropped N2.57 kobo per cent to close at N48.9 kobo per share while Conoil Plc followed with a loss of N1.58 kobo per cent to close at N30.06 kobo per share and Chemical and Allied Product Plc with N0.78 kobo to close at N14.85 kobo per share.<\/p>\n
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