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Market Value Rises by 3.4 Per cent By Jerome Ushakang and Tunyosola Ayansiji There were indications that trading in the equities sector of the Nigerian Stock Exchange (NSE) was positively regaining momentum as market capitalisation rose to N1.751 trillion from N1.693 trillion. This percentage rise represents 3.4 per cent or N58 billion over the previous day's figures. Transactions improved significantly yesterday from the sluggish market situation that had characterised business activities in the last few days on the Exchange. Consequently, some of the stocks which have been on the downward trend had staged a forceful come back. Analysis of the price movement performance revealed that 32 appreciated, as against 16 that recorded price decline. Similarly, the all share index of the Nigerian Stock Exchange rose to 24,695.60 points from 23,880.51 recorded at the close of business on Monday. Turnover volume peaked at 31.7 million ordinary shares valued at N541.3 million in 3,449 deals. The banking subsector which have been driving all other sectors still maintained a lead with a turnover volume of 18.1 million ordinary shares worth N172 million executed in 1,565 deals. Access Bank Plc topped the activity chart in the banking subsector as the most active in terms of volume. It recorded a total of 2.8 million ordinary shares valued at N6.3 million made in 56 deals, while the breweries subsector recorded 3.4 million ordinary shares worth N187.9 million in 598 deals. Industrial\domestic products subsector was placed third on the chart as it recorded a total of 2.2 million ordinary shares worth N5.2 million in 72 deals. Vitafoam Nigeria Plc led the subsector with a total volume of 1.3 million ordinary shares worth N4.3 million shares in 55 deals. Meanwhile, Total Nigeria Plc topped the price gainers chart. The company made a gain of N8.32 kobo to close at N174.82 kobo per share. It was followed by Nestle Nigeria Plc with a gain of N7.00 to close at N147 per share, while Guinness Nigeria Plc was third on the gainers chart. Guinness gained N6.64 kobo to close at N39.66 kobo per share. However, Texaco Nigeria Plc led the price losers' chart with 100 kobo to close at N142.00 per share, while Okomu Oil Palm Plc lost N0.70 kobo to close at N13.30 kobo per share. Chartered Bank Plc lost N0.10 kobo to close at N2.25 per share. Who Are We ? | About THISDAYOnLine.com | THISDAY People | Contact Us © Copyright 2000 Leaders & Company Limited

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