Don't Miss


Home   >   Nigerian Stock Exchange   >   Blue chip stocks gains sustain stock market rally

Blue chip stocks gains sustain stock market rally

By on November 19, 2014

The Nigerian equities market opened the week on a positive note yesterday as the Nigerian Stock Exchange (NSE) All-Share Index or ASI appreciated by 0.30 per cent to close at 35,488.80 points, compared with the appreciation of 2.51 per cent recorded last Friday. Year-to-Date (YTD), the NSE All-Share Index has depreciated by 14.13 per cent.

The appreciation in the Index yesterday was as a result of the gains recorded in the share prices of some highly capitalised stocks such as: FBN Holdings Plc, Nigerian Breweries Plc, Zenith Bank Plc, Guaranty Trust Bank Plc and United Bank for Africa (UBA) Plc amongst others.

Similarly, the market capitalisation appreciated by 0.30 per cent to close at N11.75 trillion, compared with the appreciation of 2.51 per cent recorded last Friday to close at N11.72 trillion.

The total value of the stocks traded today on the floors of the NSE was N2.34 billion, down by 67.25 per cent from N7.14 billion traded last Friday.

Meanwhile, the banking sector of the financial services sector remained the most active in terms of the volume of shares traded. It led the equity sector with a total of 62.69 million ordinary shares valued at N785.69 million executed in 1,192 deals.
The volume of share traded in the banking sector was largely driven by the activity in the shares of Zenith Bank Plc, Access Bank Plc, UBA Plc and Guaranty Trust Bank Plc. Trading on the shares of the four banks accounted for 55.9 million shares or 89.2 per cent of the subsectors’ turnover.

The price movement chart of the NSE showed a total number of 24 stocks that recorded gains while 19 stocks declined leaving 71 stocks unchanged.

Champion Breweries Plc emerged the toast of investors as it appreciated by 10.10 per cent to close at N9.16 kobo, followed by Costain (WA) Plc with a 4.94 per cent gain to close at N0.85 kobo. Others on the gainers chart include; P Z Cussons Nigeria Plc and Learn Africa Plc and Transcorp Nigeria Plc. On the flip side Okomu Oil Palm Plc topped the losers chart with 4.98 per cent decline to close at N28.24 kobo followed by Caverton Offshore Support GRP Plc which declined by 4.79 per cent to close at N3.78 kobo. Others on the losers table include, UPDC Plc and NPF Microfinance Bank Plc and UBA Capital Plc.

 

[ThisDay]