Don't Miss


Blue-chip gains lift weekly indices by 2%

By on March 28, 2011

The marginal price appreciation recorded by blue-chip stocks during the week lifted market indices at the close of trading activities this week.

A total of 48 stocks appreciated last week, higher than 13 during the preceding week, with Oando Plc leading the chart. It gained 8.8 per cent or N5 to close at N62 per share.

Building materials sub-sector’s stock, Lafarge WAPCO Plc, followed on the chart, rising by 10.8 per cent to close at N40.98 per share.

UACN Plc and Cement Company of Northern Nigeria climbed by 8.1 per cent and 15.9 per cent to close at N33.90 and N11.94 per share respectively.

On the other hand, 41 stocks depreciated in price last week compared to 72 the preceding week. Nestle Nigeria Plc led on the table, shedding N14.50 or 3.3 per cent to close at N425.50 per share.

Petroleum marketing stocks – Total Nigeria Plc and Mobil Oil Nigeria Plc – followed, shedding five per cent and 3.4 per cent to close at N216.92 and N150.10 per share respectively.

Flour Mills of Nigeria Plc and PZ Cussons Nigeria Plc also fell by 4.5 per cent and 10.7 per cent to close at N85 and N30 per share in that order.

The Nigerian Stock Exchange’s All-Share Index rose by two per cent from 24,378.72 the preceding week to close on Friday at 24,863.38.

Similarly, the market capitalisation of the 194 listed equities rose by N154bn or two per cent to N7.944tn up from N7.789tn the previous week.

This, according to the report, was followed by the 10 per cent FGN July 2030 bond with a traded volume of 38.2 million units worth N29.89m in 285 deals.

The NSE-30 Index rose by 2.61 per cent from 1,047.92 last Friday, to 1,075.07 points, while the NSE Banking Index gained five per cent from 376.95 on Friday, to 395.44 points.

According to the NSE weekly report, a total of 508.18 million ordinary shares were added to the outstanding shares of Royal Exchange Plc following its bonus issue of one additional share for every eight shares previously held by its shareholders.

In the over-the-counter bond market, a turnover of 204.56 million units worth N187.20bn were traded in 1,143 deals this week, compared to 169.96 million units, valued at N155.71bn exchanged the preceding week, in 1,176 deals.

The most active bond in terms of turnover was the four per cent FGN April 2015 bond with a traded volume of 46.43 million units, valued at N35.44bn in 331 transactions.

Source : Punch