NSE Market Capitalisation Rises By N24bn

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Trading on the Nigerian Stock Exchange closed? for the week on bullish note on Thursday with the market capitalisation appreciating by N24 billion.

This was due to price gains by some highly capitalised equities.

The News Agency of Nigeria (NAN) reports that the market capitalisation, which opened at N10.71 trillion, grew by 0.22 per cent or N24 billion to close at N10.73 trillion.

Also, the All-Share Index increased by 67.35 points or 0.20 per cent to close at 33,536.24 against the 33,468.89 posted on Wednesday.

NAN reports that NewGold recorded the highest price gain, rising by N11 to close at N2,466 per unit

Nestle came second on the gainers' table with N10 to close at N950, while Total gained N8.05 to close at N169.05 per share.

Okomuoil appreciated by N1.90 to close at N72.30, while Lafarge Wapco gained N1.71 to close at N76 per share.

Market analysts attributed the growth to improved 2012 financial result and dividends declared by some companies within the week.

On the other hand, Dangote Cement for the second consecutive day led the losers' chart, lost 71k to close at N148.50 per share.

It was followed by International Breweries with a loss of 25k to close at N21.20, while NAHCO Aviance lost 21k to close at N7.49 per share.

May and Baker dropped 11k to close at N2.19, while Africa Prudential Registrar lost 8k to close at N1.62 per share.

?The volume of shares traded grew by 49.58 per cent as 456.72 million shares valued at N3.58 billion exchanged in 7,340 deals.

NAN reports that this was in contrast with 305.32 million shares worth N3.39 billion traded in 5,473 deals on Wednesday.

Skye Bank emerged the toast of investors, accounting for 74.90 million shares worth N473.38 million.

UBA Capital trailed with 34.73 million shares valued at N42.96 million, while Unity Bank traded 34.45 million shares worth N28.29 million.

NAN reports that the stock market will re-open on April 2, as Friday and Monday have been declared public holidays to mark the Easter celebration.


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