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NSE index gains 1.21% as equities stop decline

By on December 20, 2014

Bargain hunting outweighed selling pressure on Thursday, enabling equities to stop an eight-day drop.

This was achieved on the back of gains by 24 stocks, led by Lafarge Africa Plc, which rose by 7.25 per cent or N4.82 to close at N71.32 per share.

NPF Microfinance Bank Plc was up by 6.49 per cent to 82 kobo per share, while Nigeria Breweries Plc rose by 6.06 per cent or N8 to close at N140 per share.

Wapic Insurance Plc, Mansard Insurance Plc and Nestle Nigeria Plc rose by five per cent each to close at 63 kobo, N3.15 and N809.14 per share in that order.

This helped the Nigerian Stock Exchange All-Share Index to rise by 1.21 per cent or 349.58 basis points from 28,961.25 basis points to 29,311.25 basis points.

Similarly, the market capitalisation of the listed equities was up by 1.21 per cent or N116bn to N9.677tn from N9.561tn.

Apart from the NSE Oil and Banking Index, which fell by 3.9 basis points or 1.06 per cent to 361.31 basis points, all other NSE indices rose on Thursday.

For instance, the NSE 30 Index was up by24.79 basis points or 1.89 per cent to 1,331.27 basis points, the NSE Lotus Islamic Index gained 30.83 basis points or 1.61 to close at 1,944.24 basis points, while the NSE Alternative Securities Market Index edged up by 21.23 basis points or 1.93 per cent to 1,121.05 basis points.

Of the four sectoral indices that appreciated on Thursday, the NSE Consumer Goods Index was the top gainer. It rose by 28.48 basis points or 3.8 per cent from 739.07 basis points to 767.55 basis points.

The NSE Insurance Index, which gained 0.54 basis points or 0.2 per cent to close at 297.24 basis points, recorded the lowest appreciation for the day.

Thursday’s gains were limited by losses made by 28 stocks.

 

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