Nigerian Stock Exchange Market Indicators Rise By 0.94 Percent

Posted by African Examiner Business News Friday, December 27th, 2013

Kayode Adelowokan, Lagos

As work resumed today, Friday, December 27, 2013, after a two day holiday for this year Christmas, equity transactions on the Nigerian Stock Exchange (NSE) opened in an upward trend with the market indices growing by 0.94 per cent.

africanexaminer.com gathered that the All-Shares Index rose by 373.43 points or 0.94 per cent to close higher at 40,231.68 against 39,858.25 achieved on Tuesday, Dec. 24.

The Market Capitalization, which opened at N12.755 trillion, appreciated by N120 billion or 0.94 per cent to close at N12.875 trillion.

An analysis of the price movement chart indicated that Nestle recorded the highest gain to lead the gainers table by N14.90 to close at N1, 200 per share.

It was followed by Total Plc with a gain of N4.95 to close at N170 per share.

Lafarge Wapco appreciated by N3.85 to close at N115, while Nigerian Breweries gained N2.15 to close at N164 per share.

Conversely, Guinness topped the losers’ chart, losing N2.50 to close at N233 per share.

Ashaka Cement trailed with a loss of 17k to close at N20 per share.

Airservice depreciated by 9k to close at N3.20, while Dangflour and UPL lost 8k each to close at N9.31 and N3.98 per share respectively.

Meanwhile, the volume of shares traded decreased by 38.26 per cent with an exchange of 377.012 million shares worth N2.404 billion traded in 3,603 deals.

This is in contrast to the 610.607 million shares valued at N2.353 billion traded in 3,206 deals on Tuesday.

Staco insurance emerged the most traded stock with 73.34 million shares valued at N36.67 million.

It was followed by Unity Bank Plc with 47.09 million shares valued at N23.55, while NEM traded 37.33 million shares worth N25.72 million.

Transcorp sold 34.50 million shares valued at N160.78 million, while FCMB accounts for 29.29 million shares worth N104.62 million.