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NSE’s market capitalisation rises further by N94b

By on March 24, 2011

TRANSACTIONS on the floor of the Nigerian Stock Exchange (NSE) continued on an upbeat note yesterday, as more companies joined the gainers’ chart, causing market capitalisation to increase further by N94 billion.

Specifically, at the close of trading yesterday, 45 companies appreciated in price, led by ABC Transport and Vitafoam with five per cent to close at N0.63 and N5.25 per share respectively, while Dangote Flour Mills, Stanbic IBTC, RedStar Express and West African Portland Company followed with 4.98 per cent to close at N17.48, N9.27 and N2.95 and N39.03 per share each.

First Bank of Nigeria Plc added 4.95 per cent to close at N14.83 per share, while Nigerian Aviation Handling Company and TransNational Corporation also gained 4.95 per cent and 4.94 per cent to close at N9.76 and N0.85 per share each.

Other gainers of yesterday’s transactions include Intercontinental Bank, Dangote Sugar Refinery, National Salt Company of Nigeria, adding 4.93, 4.93 and 4.91 per cent to close at N1.49, N13.63 and N5.98 per share.

On the other hand, 18 stocks depreciated in price as Evans Medical topped the losers’ chart with five per cent to close at N1.14 per share. C&I Leasing followed with 4.96 per cent to close at N1.34 per share.

Constain West African lost 4.94 per cent to close at N5.96 per share, while Avon Crown shed 4.92 per cent to close at N6.57 per share.

Spring Bank, Wema Bank, Nigerian Bags Manufacturing Company shed 4.79, 4.46 and 43.91 per cent to close at N1.39, N1.50 and N2.70 per share.

Consequently, the All-Share Index rose by 293.88 basis points or 1.1 per cent from 24,987.14 recorded on Wednesday to 25,281.03, while market capitalisation increased by N94 billion from N7,983 trillion to N8,077 trillion.

With transactions done in 4,317 deals, the banking sub-sector dominated in volume terms with 203 million shares worth N1.6 billion, while the insurance sub-sector followed with 18 million units valued at N20 million in 168 deals.

The food beverages and tobacco sub-sector ranked third with 7.9 million shares worth N227 million in 622 deals.

On the whole, investors exchanged 280 million shares worth N2.4 billion in 6,800 deals.

Source : Guardian