23 December 2011
The bulls consolidated their hold on the stock market Thursday, leading to a growth of N183 billion in the market capitalisation of the Nigerian Stock Exchange (NSE) in four days. The market capitalisation, which is the worth of the equities listed on the Exchange had hit a low of N6.2 trillion early this month before the bulls returned last Friday.
And the persistent positive run has lifted the market capitalisation from N6.331 trillion to N6.514 trillion Thursday. Similarly, the NSE All-Share Index has appreciated by 2.8 per cent between Monday and Thursday, rising from 20,025.94 to close at 20,604.48. Contrary to expectations that the market might remain on the downside due to the preparation for yuletide, bargain hunters had swooped on the market and have been taking advantage of low valuations.
A breakdown of the growth recorded in the last four days, showed that yesterday accounted for a growth of N58 billion in the market capitalisation and 0.9 per cent in the index.
Apart from the market capitalisation and index that went up, volume and value of trading equally went up compared with the previous day’s performance.
Investors traded 479.032 million shares worth N2.455 billion in 3,659 deals, up from 341.497 million shares valued at N1.335 billion in 3,032 deals the previous day.
However, the price movement chart displayed 30 price gainers and 22 price losers. Guinness Nigeria Plc led the price gainers with N10.00 to close at N240.00 per share. Nigerian Breweries Plc trailed with a gain of N5 to close at N105.00 per share. UAC of Nigeria Plc, Oando Plc and Cadbury Nigeria Plc chalked up N0.90, N0.67 and N0.48 respectively.
Other top price gainers included: Access Bank Plc, Guaranty Trust Bank (N0.23 apiece); Dangote Sugar Refinery Plc (N0.20); Stanbic IBTC Bank Plc (N0.17) and Nigerian Aviation Handling Company Plc (N0.15). Conversely, Seven-Up Bottling Company Plc led the price losers with N2.57 to close at N48.92 per share. Conoil Plc trailed with a loss of N1.58 to be at N30.06 per share.
Other top price losers included: CAP Plc (N0.78); Forte Oil Plc (N0.67); Ashaka Cement Plc (N0.62); Zenith Bank Plc (N0.30); etranzact (N0.27); Dangote Flour Mills Pl (N0.21); First City Monument Bank Plc (N0.18) and National Salt Company of Nigeria Plc (N0.15).
AllAfrica – All the Time