TURNOVER volume of the Nigerian Stock Exchange (NSE), yesterday, soared significantly, occasioned by investors' thirst in the insurance stocks, especially African Alliance Insurance Plc, as 534.4 million shares worth N2.7 billion changed hands in 7,067 deals, higher than 214.5 million units, valued at N1.8 billion exchanged on Monday.
Also, heavy share price gains by blue-chip companies, especially in the petroleum marketing sub-sector enhanced market indices by N36 billion.
Specifically at the close of transactions yesterday, the insurance sub-sector displaced the banking sub-sector with a turnover of 259.8 million shares worth N139.8 million in 464 deals.
The banking sub-sector followed with 181.8 million units, worth N1.6 billion in 3,814 deals, while the conglomerates sub-sector trailed with 20.6 million shares worth N134.9 million in 291 deals.
A breakdown of activities in the insurance sub-sector showed that trading in the shares of African Alliance Insurance Plc buoyed activities in the insurance sub-sector with 240.2 million shares, worth N120.1 million in 10 deals, while AIICO Insurance Plc followed with 5.1 million units, worth N120.1 million in 163 deals.
Zenith Bank Plc's 30.2 million shares worth N479.9 million boosted activities in the banking sub-sector, followed by 21.3 million units of Fidelity Bank Plc, worth N55.5 million, recorded in 132 deals.
The conglomerate was energised by activities in the shares of Transnational Incorporated, which traded 16.7 million shares, worth 9.2 million in 66 deals.
Corporate performance indices or the All-Share Index of the Exchange, appreciated by 148.89 points, or 0.6 per cent from 23,047.31 recorded on Monday to 23,196.20, while market capitalisation rose by N36 billion or 0.6 per cent, from N5.550 trillion to N5.586 trillion.
On the price movement chart, Mobil Nigeria Plc led the bulls up with 465 kobo, to close at N97.65 per share, while African Petroleum Plc followed, adding 202 kobo, to close at N42.58 per share.
UACN Plc, Guinness Nigeria Plc, Benue Cement Company Plc, Dangote Sugar Refinery Plc and Cadbury Nigeria Plc added 150 kobo, 100 kobo, 75 kobo, 69 kobo, and 38 kobo, to close at N46.00, N130.00, N50.80, N17.19 and N16.00 per share respectively.
Other gainers of yesterday transactions include United Bank for Africa Plc, Eternaoil Plc, UAC Properties Plc, Diamond Bank Plc, First City Monument Bank Plc, RT Briscoe Plc, Stanbi IBTC Plc and Fidelity Bank Plc, adding 35 kobo, 32 kobo, 30 kobo, 25 kobo, 22 kobo, 17 kobo, 13 kobo and 12 kobo, to close at N13.50, N6.82, N20.80, N8.75, N9.37, N5.45, N9.00 and N2.63 per share respectively.
However, West African Portland Cement Company Plc topped the day's losers' table with 175 kobo, to close at N33.25 per share followed by Nigerian Bottling Company Plc with 135 kobo, to close at N25.65 per share.
Glaxosmithine Plc, Alumaco Plc, BOC Gases Plc, Mandrid Plc, Presco Plc, Constain West African Plc, Nigerian Breweries Plc, Champion Plc, Vitafoam Plc, UBN Plc, PZ Cussons Plc also dropped 50 kobo, 79 kobo, 51 kobo, 29 kobo, 28 kobo, 26 kobo, 20 kobo, 14 kobo, 13 kobo, 12 kobo, and 10 kobo, to close at N26.50, N15.01, N9.88, N5.66, N5.32, N5.13, N59.70, N2.71, N4.80, N5.63 and N25.90 per share respectively.
Source:© Copyright Guardian Online
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