Capital Market on Way to Recovery
- By Kayode Ogunwale
- Published January 11th, 2010
- News
- Unrated
ACTIVITIES on the floor of the Nigerian Stock Exchange (NSE) resumed in the year on a bullish trend as 68 stocks appreciated in price during the week, higher than the 49 of the last week of 2009. Also, in the preceding week, Nigerian Breweries Plc led on the gainers’ table with N3.98 kobo to close at N57.00 kobo per share, while Benue Cement Company Plc followed with N3.49 kobo to close at N46.50 kobo per share. On the other hand, 35 stocks depreciated in price during the week, lower than the 55 of the preceding week.
Incar Nigeria Plc led on the price losers’ table, dropping by N0.95 kobo to close at N3.38 kobo per share while Ecobank Transnational Inc. Plc followed with a loss of N0.84 kobo to close at N14.16 kobo per share. However, a turnover of 1.8 billion shares worth N9.97 billion in 35,987 deals were recorded last week, in contrast to a total of 1.4 billion shares valued at N6.6 billion exchanged last week in 18,369 deals.
The banking sub-sector was the most active during the week (measured by turnover), with 987.7 million shares worth N6.23 billion exchanged by investors in 17,640 deals. Volume in the banking sub-sector was largely driven by activity in the shares of FinBank Plc, First Bank of Nigeria Plc and Fidelity Bank Plc. Trading in the shares of the three banks accounted for 380.04 million shares, representing 38.5 per cent of the sub-sector’s turnover.
The NSE All-Share Index appreciated by 4 per cent to close on Friday at 21,658.69. The market capitalisation of the 200 first tier equities closed higher at N5.19 trillion. Also, The NSE-30 Index appreciated by 3.91 per cent to close at 860.34 points.
Incar Nigeria Plc led on the price losers’ table, dropping by N0.95 kobo to close at N3.38 kobo per share while Ecobank Transnational Inc. Plc followed with a loss of N0.84 kobo to close at N14.16 kobo per share. However, a turnover of 1.8 billion shares worth N9.97 billion in 35,987 deals were recorded last week, in contrast to a total of 1.4 billion shares valued at N6.6 billion exchanged last week in 18,369 deals.
The banking sub-sector was the most active during the week (measured by turnover), with 987.7 million shares worth N6.23 billion exchanged by investors in 17,640 deals. Volume in the banking sub-sector was largely driven by activity in the shares of FinBank Plc, First Bank of Nigeria Plc and Fidelity Bank Plc. Trading in the shares of the three banks accounted for 380.04 million shares, representing 38.5 per cent of the sub-sector’s turnover.
The NSE All-Share Index appreciated by 4 per cent to close on Friday at 21,658.69. The market capitalisation of the 200 first tier equities closed higher at N5.19 trillion. Also, The NSE-30 Index appreciated by 3.91 per cent to close at 860.34 points.
