Oct 07, 2009 (Daily Champion/All Africa Global Media via COMTEX) -- Low prices of stocks quoted on the Nigerian Stock Exchange (NSE) yesterday triggered massive rise in turnover of traded equities which impacted positively in all market indices.

Turnover rose by 619.46 million shares Tuesday to close at 926.54 million shares valued at N7.38 billion transacted in 7,037 deals.

This was against the volume that opened trading for the day which stood at 307.07 million shares valued atN2.05 billion transacted by investors in 4,943 deals.

The banking subsector which has remained the most active based on turnover and return on investment continued to lead on the activity chart measured by volume with 759.67 million shares valued at N6.29 billion exchanged by investors in 4,188 deals.

The sector's turnover was lifted by trading in the shares of Access Beak with 419.85 million shares valued at N2.98 billion transacted by investors in 179 deals. Turnover of the bank accounted for 55.27 percent of the sectors turnover, while it accounted for 45.1 percent of the total turnover for the day.

Turnover of the insurance subsector was lifted by transaction in the shares of Cornerstone Insurance with 19.19 million shares valued at N19.18 million in 24 deals, followed by International Energy Insurance with 9.76 million shares valued at N7.12 million exchanged by investors in 49 deals while Standard Alliance Insurance pulled 8.05 million shares valued at N7.09 million in 36 deals.

The Food/Beverages and Tobacco sunbsector remained vibrant wit a turnover of 27.90 millionshares valued at N366.14 million transacted in 453 deals. Turnover of the sector as lifted by trading in the shares of Dangote Sugar Refinery with 19.39 million shares valued at N299.92 million traded by investors in 140 deals.

Meanwhile market capitalization rose by N10.46 billon to close at N5.36 trillion against N5.35 trillion which opened trading for the day. Also market all share index rose by 44.97 basis points to close at 23,071.66, against 23,026.69 which opened trading.

Analysis of the market summary showed that 55 equities or 74.32 percent of the 74 companies that participated in trading yesterday appreciated in price against. This was however lower than higher than 56 gainers that opened trading for the week.

Oando oil Nigeria led the gainers with N4.37 to close at 091.67 per share, followed BY Nigerian Breweries with N2.40 gain to close at N55.90 per share while Julius Berger Nigeria added N1.09 to close at N27.79 per share.

UAC Property Development Company added N1.00 to close trading at N21.00 per share while Eco Bank Transnational Incorporated (RTI) closed the top five gainers table with 63 kobo to close at N13.23 per share.

First Bank of Nigeria (FBN) led the 19 companies that appeared on the losers table with 79 kobo loss to close at N15.17 per share, followed by Unilever Nigeria with 79 kobo to close at N15.11 per share while Zenith Bank gave out 77 kobo to close at N14.65 per

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