All business, markets and economics news

Economic Growth In Nigeria, Rwanda Amongst World’s Fastest – World Bank

Economic growth in Nigeria, Rwanda and other Sub-Sahara African nations is likely to reach more than five per cent on average in 2013-2015 as a result of high commodity prices worldwide and strong consumer spending on the continent, ensuring that the r...

Continue ReadingEconomic Growth In Nigeria, Rwanda Amongst World’s Fastest – World Bank

Market Capitalisation Grows By N163bn – NSE

Activities on the Nigerian Stock Exchange (NSE) opened for the week on Monday on a positive note with market capitalisation appreciating by N163 billion due to gains by major equities.

The News Agency of Nigeria (NAN) reports that market capitalisation rose by N163 billion to close at N11.14 trillion, up from the N10.99 trillion posted on Friday, an increase of 1.48 per cent.

Also, the All-Share Index, which opened at 34,301.37, grew by 508.88 basis points or 1.48 per cent to close at 34,810.25.

Nestle recorded the highest price gain to lead the gainers' chart with N9.50 to close at N970 per share.

Dangote Cement came second on the gainers' table, gaining N9 to close at N165 while Nigerian Breweries increased by N3.49 to close at N164.99 per share.

CAP rose by N2.90 to close at N40 while Okomu Oil Palm improved by N2 to close at N97 per share.

Conversely, Mobil Oil and PZ Cussons topped the losers' chart with a loss of N1 each to close at N123 and N35 per share respectively.

Access Bank lost 59k to close at N9.91, Air Services decreased by 47k to close at N4.28 while GTBank dipped by 44k to close at N25.50 per share.

Also, the volume of shares traded appreciated by 30.40 per cent as investors staked N5.19 billion on 492.81 million shares transacted in 6,383 deals.

This was in contrast to the 377.91 million shares worth N4.19 billion traded in 6,185 deals on Friday.

NAN reports that IHS was the toast of investors, accounting for 166.76 million shares valued at N353.53 million.

FBN Holdings followed on the activity chart with an exchange of 32.64 million shares worth N689.21 million while Access Bank sold 32.22 million shares valued at N322.46 million.


Continue ReadingMarket Capitalisation Grows By N163bn – NSE