Author Topic: MARKET CAPITALISATION RISES ON THE EXCHANGE  (Read 899 times)

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MARKET CAPITALISATION RISES ON THE EXCHANGE
« on: November 11, 2008, 12:01:07 PM »
Market capitalisation rises on the Exchange
By Helen Oji

FOR the first time in several weeks, equity transactions in the stock market opened on a bullish note yesterday when the blue chip stocks recorded major price gains, causing the indices to inch up by 1.7 per cent.

Specifically, at the close of trading yesterday, price gains outweighed losses, with 59 stocks, recording price appreciation, while 25 others constituted the losers' chart.

Precisely, corporate performance indices, the All-share index of the Nigerian Stock Exchange (NSE) rose by 621.24 points or 1.7 per cent, from 34,351.81 recorded on Friday to 34.973.05 yesterday, while market capitalisation increased by N100 billion or 1.3 per cent from N7.5 trillion to N7.6 trillion.

Guinness Nigeria Plc emerged the days highest price gainer, adding 407 kobo, to close at N85.60 per share while Nigerian Breweries Plc followed on the list, adding 179 kobo, to close at N37.66 per share.

Other gainers' of yesterday's trading include, Zenith Bank International Plc, First Bank of Nigeria Plc, UACN Properties Development Plc, United Bank for Africa Plc, BOC Gases Plc, Dangote Sugar Refinery Plc, Guaranty Trust Bank Plc, Oceanic Bank International Plc, Presco Nigeria Plc and Dangote Flour Mills Plc, adding 118 kobo, 111 kobo, 100 kobo, 76 kobo, 76 kobo, 74 kobo, 69 kobo, 64 kobo, 62 kobo and 61 kobo, to close at N24.83, N23.32, N24.00, N16.09, N19.90, N15.54, N14.50, N13.59, N13.05 and N12.85 per share.

On the other hand, one of the petroleum marketing giants, Chevron Nigeria Plc led the losers' chart, shedding 1,557 kobo, to close at N295.84 per share, while Oando Nigeria Plc followed, dropping 730 kobo, to close at N138.81 per share.

Nigeria Bottling Company Plc, West African Portland Company Plc, UBN Plc, PZ Cussons Nigeria Plc, Morison Industries Plc and Unilever Nigeria Plc also featured on the list, shedding 203 kobo, 130 kobo, 115 kobo, 97 kobo, 79 kobo and 62 kobo, to close at N38.69, N28.60, N21.93, N18.60, N15.14 and N12.40 per share.

With transactions done in 5,171 deals, the banking sub-sector dominated in volume terms with 167.5 million share, valued at N1.6 billion, while the insurance sub-sector followed with 59.6 million shares, worth N94 million in 944 deals.

The computer and office equipment sub-sector was boosted by activities in the shares of Omatek Ventures Plc, which traded 15.6 million units, valued at N36.2 million in 60 deals.

In all, 349.3 million shares, valued at N2.6 billion was exchanged by investors in 9,046 deals.

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MARKET CAPITALISATION RISES ON THE EXCHANGE
« on: November 11, 2008, 12:01:07 PM »

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