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Friday, December 7, 2012

Index rises by 0.5% on renewed interest

The Punch - Nigeria's Most Widely Read Newspaper
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Index rises by 0.5% on renewed interest
Dec 7th 2012, 23:00

The increase in equity trading activities, which began on Tuesday was sustained till Friday, with major indices closing positive.

At the close of trading, the Nigerian Stock Exchange's All-Share Index rose by 0.5 per cent or 125.52 basis points from 26.546.20 to 26.671.72 points.

Similarly, the market capitalisation of the listed equities increased by 0.5 per cent or N40bn to N8.522tn, up from N8.482tn recorded the preceding day.

The NSE-30 Index rose by 0.6 per cent or 7.10 basis points from 1,259.38 to 1,266.48 points, while the Consumer Goods Index rose by 0.6 per cent or 4.95 basis points to close at 806.05 points.

The banking index gained the highest, rising by 1.2 per cent or 3.57 basis points, to 312.17 points, up from 308.60 points recorded the previous day.

Aiico Plc recorded the highest price appreciation of the day, rising by 8.20 per cent or five kobo to close at 0.66 per share.

UAC Property Development Company Plc gained 5.47 per cent or 55 kobo to close at N10.60 per share.

Sterling Bank Plc and Northern Nigerian Flour Mills Plc rose by 5.3 and 4.9 per cent to close at N1.57 and N18.38 per share, respectively. Oando Plc and Eterna Plc also gained 4.9 per cent and 4.7 per cent to close at N12.10 and N1.58 per share in that order.

UTC Plc, on the other hand, lost the highest price for the day, shedding five per cent or three kobo to close at 58 kobo per share.

MC Nichols Plc and Neimeth Pharmaceutical Company Plc also lost 4.5 per cent and 4.3 per cent to close at 85 kobo and 88 kobo per share, respectively.

Livestock Feeds Plc and Honeywell Flour Mills Plc lost 4.2 per cent and 2.4 per cent to close at N1.36 and N2.05 per share in that order.

The banking sub-sector maintained its lead on the activity chart, accounting for 66 per cent of total volume traded.

In the sub-sector, 151.35 million shares, worth N1.462bn were exchanged by investors in 1,679 deals.

Turnover in the sub-sector was driven by trading in the shares of Skye Bank Plc, Guaranty Trust Bank Plc and Zenith Bank Plc.

Other banks that drove volume in the sub-sector included Stanbic IBTC Bank Plc, Diamond Bank Plc and United Bank for Africa Plc.

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