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Oando, PZ, others raise NSE index by 0.9%

By on November 14, 2014

Gains by Oando Plc and PZ Cussons Nigeria Plc and 34 other stocks on Wednesday helped the Nigerian Stock Exchange to close on a positive note, with the NSE All Share Index rising for the third straight session.

Specifically, the NSE ASI rose by 296.73 basis points or 0.9 per cent from 33,670.75 basis points to 33,967.48 basis points.

Similarly, the market capitalisation of the listed equities rose by 0.9 per cent or N98bn to close at N11.250tn; up from N11.152tn.

Also, the NSE 30 Index gained 17.73 basis points or 1.2 per cent to close at 1,552.79 basis points.

The banking sub-sector dominated the activity chart, accounting for 38.8 per cent of total turnover traded on Wednesday.

In the sub-sector, 116.526 million equities valued at N1.393bn exchanged hands in 1,764 deals with volume being driven by trading in the shares of United Bank for Africa Plc, Zenith Bank Plc and Guaranty Trust Bank Plc.

Diamond Bank Plc and Access Bank Plc also recorded high volume turnover in the sub-sector.

In all, 36 shares appreciated in price, while 27 others declined in price.

Oando Plc appreciated the most, gaining 10.22 per cent or N2.01 to close at N21.68 per share.

It was followed by PZ Cussons Nigeria Plc, which also gained 10.22 per cent or N1.97 to close at N21.25 per share, while Cadbury Nigeria Plc was up by 10.21 per cent or N3.92 to close at N42.30 per share.

Also among the gainers were Transnational Corporation of Nigeria Plc and Dangote Sugar Refinery Plc, which rose by 10.25 per cent and 10.15 per cent to close at N3.78 and N6.62 per share, respectively.

Champion Breweries was the biggest loser for the day. It fell by 9.66 per cent or 96 kobo to close at N8.98 per share.

Learn Africa Plc was down by 9.27 per cent or 14 kobo to close at N1.37 per share, while Flour Mills of Nigeria Plc shed 5.02 or N2.78 to close at N52.64 per share.

 

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