NSE’s indices rise by 1.7 per cent



Tuesday, 12 October 2010 By Helen Oji  



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TRANSACTIONS on the Nigerian Stock Exchange (NSE) recorded an increase yesterday, as most blue chip companies witnessed price appreciation, resulting to a significant rise in market indices by 1.7 per cent.


Volume of shares traded however, witnessed a downturn as 200.7 million shares worth N1.9 billion changed hands in 5,131 deals lower than 333.9 million units valued at N2.4 billion exchanged in 5,567 deals on Friday.


Specifically, at the close of transactions yesterday, corporate performance indices or the All-Share Index of the Exchange rose by 434.1 points or 1.79 per cent from 23,772.40 recorded on Friday to 24,206.50, while market capitalisation increased by N106 billion or 1.78 per cent from N5,825 trillion to N5,931 trillion.


On the price movement chart, Flourmills Nigeria Plc emerged the day’s highest price gainer, with 304 kobo to close at N63.89 per share, while Nigerian Breweries Plc followed with 158 kobo to close at N78.08 per share.


Cadbury Nigeria Plc, PZ Cussons Plc, Dangote Sugar Refinery Plc featured with 125 kobo, 110 kobo and 75 kobo to close at N27.52, N32.00 and N16.75 per share each.


Zenith Bank Plc, Ecobank TransNational Incorporated Plc, Guaranty Trust Bank Plc and First Bank Plc added 66 kobo, 50 kobo, 48 kobo and 37 kobo to close at N13.50, N15.50, N15.79 and N11.71 per share respectively.
On the other hand, Ashaka Cement Plc topped the losers’ chart with 111 kobo to close at N21.38 per share. Berger Nigeria Plc followed with 34 kobo to close at N7.59 per share.


Seven Up Plc, Constain West Afreican Plc, National Salt Company of Nigeria Plc, Capital Oil Plc shed 30 kobo, 22 kobo, 19 kobo and 14 kobo to close at N36.65, N7.48, N5.51, and N2.50 per share each.


Other losers of yesterday’s trading include Custodian & Allied Insurance Plc, IHS Plc and C&I Leasing Plc with 13 kobo, 12 kobo and nine kobo to close at N2.57, N2.46 and N1.87 per share each.


Further analysis of yesterday’s transactions indicated that the banking sub-sector remained the most active shares in volume terms with 131.6 million shares worth N958 million, while the insurance sub-sector followed with 19.9 million units valued at N15.5 million in 393 deals. The conglomerates sub-sector ranked third with 11.6 million shares worth N88 million.


Access Bank Plc’s 43.5 million shares worth N417 million enhanced activities in the banking sub-sector followed by Bank PHB’s 18.4 million units valued at N18.4 million in 84 deals.


The insurance sub-sector was strenghtened by activities in the shares of Goldlink Insurance Plc, which traded 10.1 million shares, worth N5 million, while AIICO Insurance Plc’s 3.1 million units worth N2.6 million followed in 283 deals.



 Source: Guardian

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