✕ CLOSE Online Special City News Entrepreneurship Environment Factcheck Everything Woman Home Front Islamic Forum Life Xtra Property Travel & Leisure Viewpoint Vox Pop Women In Business Art and Ideas Bookshelf Labour Law Letters
Click Here To Listen To Trust Radio Live

Market buoys by Access, First Bank shares

The Banking subsector was the most active during the week (measured by turnover volume), with 1.31 billion shares worth N13.93 billion exchanged by investors in…

The Banking subsector was the most active during the week (measured by turnover volume), with 1.31 billion shares worth N13.93 billion exchanged by investors in 27,412 deals. Volume in the Banking subsector was largely driven by activity in the shares of Access Bank Plc, First Bank of Nigeria Plc, Zenith Bank Plc and United Bank for Africa Plc. Trading in the shares of the four banks accounted for 564.9 million shares, representing 43.01 per cent of the subsector’s turnover.

The Insurance subsector, boosted by activity in the shares of Universal Insurance Company Plc and Lasaco Assurance Plc, followed on the week’s activity chart with a turnover of 535.8 million shares valued at N548.33 million in 4,469 deals.

Penultimate week, the Banking subsector led on the activity chart and was followed by the Insurance subsector.

However, the All-Share Index rose by 4.93 per cent to close on Friday at 27,086.56. The market capitalization of the 193 First -Tier equities closed higher at N6.18 trillion. Also, The NSE-30 Index rose by 5.01% to close at 917.82.

All the four sectoral indices appreciated – The NSE Food/Beverages Index rose by 4.34 per cent to close at 512.33. The NSE Banking Index rose by 5.34 per cent to close at 456.61. The NSE Insurance Index rose by 0.09 per cent to close at 370.23. The NSE Oil/Gas Index rose by 0.98 per cent to close at 403.23.

Also70 stocks appreciated in price during the week, higher than the 12 in the preceding week. Three Petroleum (Marketing) stocks occupied the top position on the price gainers’ table. Oando Plc led on the gainers’ table with a gain of N6.24 to close at N91.89 per share while Total Nigeria Plc followed with N5.95 to close at N175.00 per share. Other price gainers in the Top 10 category include Mobil Oil Nigeria Plc N5.88, UAC of Nigeria Plc N5.28, Julius Berger Nigeria Plc N4.46, UACN Property N2.99, Guaranty Trust Bank Plc  N2.52, Ashaka Cement Plc N2.27, NBC N2.10 First Bank of Nigeria Plc N2.01.

Similarly, 46 stocks depreciated in price during the week, lower than the 102 in the preceding week. African Petroleum Plc led on the price losers’ table, dropping by N5.26 to close at N94.53 per share while Nestle Nigeria Plc followed with a loss of N4.00 to close at N185.00 per share. Other price losers in the Top 10 category include: Conoil Plc N3.51, Intercontinental Bank Plc N2.79, Eterna Oil & Gas Plc N1.33 Access Bank Plc N0.61.

During the week, the price of Access Bank Plc was adjusted for a dividend of N0.70 per share as recommended by the Board of Directors.

Meanwhile, 3,205,725,266 Units of Lotus Capital Halal Investment Fund has been admitted on the Daily Official List under Memorandum Listing at N0.87 per Unit09. By this action, the number of Managed Funds granted Memorandum Listing status increased to 25.

Cadbury Nigeria Plc was placed on technical suspension on Monday June 29, 2009 on receiving the company’s application to undertake supplementary share offering. Also, technical suspension on Eterna Oil & Gas Plc was lifted following the expiration of the two weeks allowed by The Exchange after the closure of the supplementary issue to the public and the confirmation by the stockbrokers that there are no unresolved issues arising from the supplementary issue.

Join Daily Trust WhatsApp Community For Quick Access To News and Happenings Around You.

UPDATE: Nigerians in Nigeria and those in diaspora can now be paid in US Dollars. Premium domains can earn you as much as $17,000 (₦27 million).

Click here to start earning.