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Market indicators start year on a positive note

04 January, 2008 02:00:00 ABDUL IMOYO
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 It would be recalled that the indicators had on Monday, which was the last trading day of 2007 attained new heights with market capitalisation closing at N10.108 trillion while the all-share index rose to 57,990.22.

At the close of transactions Tuesday, market capitalisation witnessed an increase of N103 billion to close at N10.3 trillion while the all-share index recorded an increase of 589.55 points to close a N58,579.77 points basis.

 Market operators attributed the continuous increase in level of transactions to increased investors’ awareness and potentials inherent in companies, some of which are set to send their results to the market.

 Analysis of the price movement chart for the day showed that petroleum marketing majors experienced greater capital appreciation. African petroleum (AP) led the other 80 gainers with N10.35 to close at N217.35. Mobil followed appreciating N5.00 to close at N185.00. Conoil went up by N4.20 to close at N88.38. WAPCO and Oando closed the top five gainers table with N3.18 and N2.40 to close at N82.98 and N125.00 in that order.

 Ecobank Transnational Incorporated (ETI) led on the flip side with N10.00 o close at N207.00, while J Berger trailed behind with N4.23 to close at N80.40. Intercontinental bank lost N1.54 to close at N39.06. Prestige Assurance, RedStarEx, and United Bank for Africa (UBA) declined N0.40 apiece t6o close at N8.50, N8.01 and N49.10 respectively.

 Insurance sub-sector boosted by shares traded in Equity Assurance and Lasaco Assurance led on the sectoral table, accounting for 245.104 million shares worth N1.06 billion in 1,110 deals.  The banking sub-sector followed closely with traded volume of 238.1 million shares worth N6.144 billion in 3,445 deals.

Comments (2 posted):

Onyinye Udoh on 05 January, 2008 01:06:19
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when did insurance companies started selling their shares because i am sure that lasco assurance did not advertise their own and how can some one get to know about new share that is in the stock market and their prices.why is it that some companies doesn,t like adverising their shares?.
AZEEZ OLALEKAN on 06 January, 2008 03:14:18
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Most time the analysis were made it raises hopes but at AGM of many of these establishment ,the story was usally different.

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