Nigeria: Stock Market Capitalization Gains N7 Billion

Daily Trust (Abuja)

Kayode Ogunwale

6 January 2012

Lagos — Activities on the Nigerian Stock Exchange (NSE) yesterday closed on bullish trend for the first time in the year as the key benchmark All Share Index (ASI) rose by 21.93 basis points to close at 20,657.00 while the market capitalization of 199 first-tier equities gained N7 billion representing 0.11 per cent to close at 6.509 trillion.

However, the NSE has placed Ecobank Nigeria Plc on full suspension following the court ordered meeting held on December 22, 2011 in preparation for the delisting of the bank from the stock exchange.

Meanwhile, NSE 30 index which basically measures the performance of blue chips rose by 0.35 per cent to close at 930.40 basis points. NSE Insurance index lost 1.05 per cent to close at 130.50 points, NSE Food and Beverages index moved down by 0.03 per cent to close at 1,708.10, NSE Banking index dropped by 0.03 per cent to close at 273.44, while NSE Oil and Gas index remain at 230.47 basis points.

In the same vein, a turnover of 154 million shares worth N1.059 billion in 2,593 deals was recorded yesterday as against a turnover of 639 million shares valued at N1.919 billion in 2,654 deals recorded in the previous trading day.

Financial Services sector led the market transaction volume with 129 million units valued at N617 million exchanged in 1,536 deals.

The Banking sub-sector of the Financial Services sector was the most active during the day (measured by turnover volume); with 117 million shares worth N609 million exchanged by investors in 1,210 deals.

However, Newgold Oil Plc led on the gainers’ table with a gain of N50.00 kobo to close at N2,472.00 kobo per share, Dangote Cement Plc followed with a gain of N0.52 kobo to close at N111.29 kobo per share and Flour Mill Plc gained N0.50 kobo to close at N63.50 kobo per share.

On the other hand, Ashaka Cement Plc led on the price losers’ table, dropped N0.58 kobo per cent to close at N11.03 kobo per share while Vitafoam Plc with N0.26 kobo to close at N5.05 kobo per share and Access Bank Plc followed with a loss of N0.26 kobo per cent to close at N5.03 kobo per share.

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