NSE Index rises

Trading activities on the floor of the Nigerian Stock Exchange continued on a positive note on the last trading day of the week.As against the usual trend of shares recording losses just before the Christmas celebrations, activities recorded marginal improvement on Friday.For instance, the NSEs All-Share Index rose by 0.8 per cent or 158.78 basis points from 20,604.48 points to 20,763.26 points. Similarly, the market capitalisation of the listed equities increased by 0.4 per cent or N29bn to N6.543tn up from N6.514tn recorded the preceding day.The NSE-30 Index and Food/beverages index rose by 0.5 per cent and 0.3 per cent to close at 931.76 and 584.41 basis points respectively.However, the NSE Banking Index and the insurance index recorded marginal losses, falling by 1.3 per cent and 0.1 per cent to close at 273.90 and 143.48 basis points in that order.Market analysts traced the development to the fact that some investors were taking position in the market ahead of expected fourth quarter results early next year.Sterling Bank Plc recorded the highest price appreciation of the day, rising by five per cent or five kobo to close at N1.05 per share.Livestock Feeds Plc gained five per cent or three kobo to close at 63 kobo per share.United Bank for Africa Plc and Japaul Oil and Maritime Services Plc rose by five per cent each, to close at N2.73 and 84 kobo per share respectively.Fidson Plc, on the other hand, lost the highest price for the day, shedding five per cent or four kobo to close at 76 kobo per share.Total Nigeria Plc also lost five per cent or N9.90 to close at N188.10 per share.Skye Bank Plc and Vitafoam Plc fell by 4.9 per cent each to close at N4.06 and N4.89 per share, while Cutix Plc and RT Briscoe Plc lost 4.6 per cent and 4.4 per cent to close at N1.63 and N1.29 per share in that order.The banking sub-sector maintained its lead on the activity chart, accounting for 68 per cent of total volume traded.In the sub-sector, 168.37 million shares, worth N533bn were exchanged by investors in 1,214 deals.Turnover in the sub-sector was largely driven by trading in the shares of Fidelity Bank Plc.Other companies that drove volume in the sub-sector included UBA and First Bank of Nigeria Plc.
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