9 January 2013

Nigeria: Stock Market Up By 0.35 Percent

Transactions on the floor of the Nigerian Stock Exchange (NSE) further closed northwards as most blue chip stocks appreciated for the second day running with the performance index rising by 0.35 per cent.

Consequently, the price movement showed that 34 stocks gained weight at the close of the day's transactions, in contrast to 23 others that constituted the losers' table in the day.

The market capitalisation of listed equities rose by N33 billion to close at N9.297 trillion, up from N9.264 trillion recorded on Monday, representing 0.35 per cent improvement over the previous day's activity.

A further review of transaction in the day showed that the All Share Index appreciated by 103.32 basis points to close at 29,089.52 points from the previous 28,986.20 points.

UBA Plc which topped the gainers' list adding N0.46 kobo to its share price to close at N5.14 per share, followed by UAC-Properties with N1.16 increase to close at N13.22 per share. NASCON, Oando and Forte Oil Plc that were the last three on top five gainers' table, appreciated by N0.73, N0.65 and N0.40 to close at N8.74, N13.68 and N8.51 per share respectively.

On the other hand, DN Meryer Plc led on the flip side with N0.15 kobo loss to close at N1.40, followed by AIICO Insurance Plc with N0.07 kobo decrease to close at N0.71 per share. Custodian Insurance lost N0.13 to close at N1.40 per share, while BAGCO Plc dropped N0.0.22 kobo to close at N2.38, and MRS Oil fell by N1.18 to close at N22.58 among other losers.

Further analysis showed that the banking sub-sector buoyed by activities on the shares of Unity Bank dominated others on the sectoral chart with 305.1 million units valued at N2.27 billion exchanged in 3,093 deals.

The Conglomerate sector propelled by transactions on the shares of Transnational Corporation of Nigeria Plc closed as the second most traded in the day with 83.7 million units worth N103.7 million in 234 deals, while the Other Financial Institution sector led by FBN Holding Plc ranked third, trading 26.5 million shares worth N22.01 million exchanged in 238 deals.

Copyright © 2013 Leadership. All rights reserved. Distributed by AllAfrica Global Media (allAfrica.com). To contact the copyright holder directly for corrections — or for permission to republish or make other authorized use of this material, click here.

AllAfrica publishes around 2,000 reports a day from more than 130 news organizations and over 200 other institutions and individuals, representing a diversity of positions on every topic. We publish news and views ranging from vigorous opponents of governments to government publications and spokespersons. Publishers named above each report are responsible for their own content, which AllAfrica does not have the legal right to edit or correct.

Articles and commentaries that identify allAfrica.com as the publisher are produced or commissioned by AllAfrica. To address comments or complaints, please Contact us.