6 November 2012

Nigeria: Stock Market Inches Up By 0.15 Percent

Trading activities on the floor of the Nigerian Stock Exchange (NSE) yesterday opened the week in the green, as the twin market indicators, the market capitalisation and the All-Share Index rose marginally by 0.15 per cent.

Consequently, the All-Share Index gained 40.45 basis points to close slightly at 26,600.10 as against 26,559.55 recorded on Friday while, the market capitalisation of 199 first-tier equities equally appreciated by N13 billion or 0.15 per cent as sentiments turned green.

Meanwhile, a turnover of 188.6 million shares worth N1.4 billion in 4,046 deals was recorded in the day's trading.

The banking sub-sector of the financial services sector was the most active during the day (measured by turnover volume); with 107.8 million shares worth N837 million exchanged by investors in 2,355 deals.

Volume in the banking sub-sector was largely driven by activity in the shares of Fidelity Bank and ETI Plc.

Also, food products sub-sector of the consumer goods sector, boosted by activity in the shares of DangotePlc followed by 31.9 million shares worth N172.8 million in 245 deals.

The number of gainers at the close of trading session on Monday was 19 while decliners closed higher at 24.

Fidson Health Care Plc led on the gainers' table with a gain of 8.57 per cent to close at N1.14 per share while Ikeja Hotels Plc followed with a gain of 4.90 per cent to close at N1.07 per share.

On the other hand, AIICO Insurance Plc led on the price losers' table, dropped 7.25 per cent to close at 64 kobo per share while Custodian Insurance Plc followed with a loss of 6.47 per cent to close at N1.30 share.

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