National Daily

Exchange in marginal gain

•All-Share Index up 0.96per cent •Market cap N10.72tr

By OLUTAYO OLUBI

TRADING activities on the floor of the Nigerian Stock Exchange, NSE, witnessed a partial turn-around as the market experienced a momentary up-swing mid-week. The change which began on Wednesday culminated in the All-Share Index rising by 0.96per cent to close on Friday at 54,905.36. The market capitalization of the 208 First -Tier equities closed higher at Nl0.72 trillion.

Forty (40) stocks appreciated in price during the week, higher than the fourteen (14) in the preceding week. A turnover of 5.2 billion shares worth N68.65 billion in 78,301 deals was recorded this week, in contrast to a total of 5.24 billion shares valued at N42.5 billion exchanged last week in 82,791 deals.
The Banking subsector was the most active during the week (measured by turnover volume), with 2.5 billion shares worth N54.63 billion exchanged by investors in 40,460 deals. Volume in the Banking subsector was largely driven by activity in the shares of Intercontinental Bank Pic, PlatinumHabib Bank Plc, United Bank for Africa Plc and Fidelity Bank Plc. Trading in the shares of the four banks accounted for 1.34 billion shares, representing 54.3per cent of the subsector's turnover.

The Insurance subsector, boosted by activity in the shares of Investment and Allied Assurance Plc, followed on the week's activity chart with a turnover of 1.98 billion shares valued atN4.8 billion in 11,586 deals.

Last week, the Insurance subsector led on the activity chart and was followed by the Banking subsector.
Also, as in the preceding week, Chevron oil Nigeria Plc led on the gainers' table with a gain of N31.47 to close at N338.59 per share while Total Nigeria Plc followed with N1l.62 to close at N250.00 per share.

Eighty (80) stocks depreciated in price during the week, lower than the ninety - nine (99) in the preceding week. Conoil Plc led on the price losers' table, dropping by N9.92 to close at N99.80 per share while Ecobank Transnational Incorporated followed with a loss of N5.94 to close at N38.71 per share.