Trading was upbeat at the end of the first week of the New Year transactions at the Nigerian Stock Exchange (NSE), with 3.03 billion shares worth 53.6 billion naira traded in 40,613 deals, compared with 1.17 billion shares valued at 31.9 billion naira exchanged in 25,703 deals in the previous week. Like most part of last year, the banking sub-sector was the most active during the week, with 1.32 billion shares valued at 39.5 billion naira exchanged by investors in 19,704 deals. Volume in the sub-sector's was largely driven by activity in the shares of Intercontinental Bank Plc, Access Bank Plc, Unity Bank Plc and Oceanic Bank International Plc. Trading in the shares of the four banks accounted for 667.91 million shares, representing 50.45% of the sub-sector’s turnover.

 As was the case in most part of 2007, the Insurance sub-sector, boosted by activity in the shares of LASACO Assurance Plc and N.E.M. Insurance Plc, followed on the activity chart with a turnover of 1.23 billion shares valued at 5.6 billion naira in 8,122 deals. The All-Share Index rose by 3.5% to close at 58,850.58 points, while the market capitalization of the 212 listed equities closed higher at 10.33 trillion naira. The All-Share Index had on Thursday recorded a historic highest value of 59,257.16 points before dropping to the current position. One hundred and one stocks appreciated in price during the week, higher than the 87 in the preceding week. Four Petroleum stocks took the top four positions on the gainer's table -- African Petroleum Plc led with a gain of 21.86 naira to close at 219.01 naira per share; Conoil Nig Plc followed with 8.82 naira to close at 89.00 naira per share; Oando Nig Plc appreciated by 8.18 naira; Chevron Nig Plc by 18.01 naira and Cappa&D'Alberto Plc 6.90 naira per share. On the other hand, 21 stocks depreciated in price, same as in the previous week. Ecobank Transnational Incorporated led on the week's price loser's table, dropping by 9.00 naira to close at 209.00 naira per share, while Nestle Nigeria Plc followed with a loss of 3.55 naira to close at 260.00 naira per share.