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Market Index drops

January 26th, 2007 Ogbuotobo Chuks || chuks@stockmarketnigeria.com

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By Ogbuotobo Chuks

The all share index fell yesterday by 1.33 percent to close at 35, 593.77 basis point from 36, 073.70 basis point recorded previously.The market capitalization also fell to N4, 815 trillion. This was in contrast to N4, 880 trillion recorded previously. The market also experienced low trading as total investors trade fell to 400 million shares exchanged in 9,753 deals valued at N5 billion. This was in contrast to 780 million shares exchanged previously in 8, 169 deals valued at N7 billion.

The banking sub sector continued its dominance of the sectoral chart, with investors exchanging 339 million shares traded in 6, 534 deals valued at N3 billion.

The insurance sub-sector followed with investors exchanging 14 million shares traded in 239 deals valued at N24 million. The conglomerates sub sector came third with investors trading 11 million shares exchanged in 541 deals valued at N153 million.

ETI led the gainers pack gaining N12.32 to close at N256.82 from an opening price of N246.50; Total bounced back with a gain of N8, 48 to close at N188.98 from an opening price of N180.50, while Guinness gained N4.37 to close at N119.38 from an opening price of N115.01.

On the losers table, Chevron led with a loss of N5.00 to close at N140, 00 from an opening price of N145.00, Mobil lost N5.00 also to close at N170.00 from an opening price of N175.00, while Conoil lost N3.95 to close at N75.05 from an opening price of N79.00.

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