Home Finance Trading at NSE inched up by 0.64%

Trading at NSE inched up by 0.64%

by Business News Report

Market indicators of the Nigerian Stock Exchange (NSE) recorded further appreciation on Tuesday following price gains by some highly capitalised stocks. Both the All-Share Index (ASI) and market capitalisation grew by 0.64 per cent. The ASI appreciated by 136.63 points to close at 21,227.98 against the 21,091.35 recorded on Monday.
Also, the market capitalisation grew by N43 billion to close at N6.699 trillion from the N6.656 trillion posted on Monday. Nestle, for the second consecutive day, led the gainers’ chart, appreciating by N23.09 to close at N486.70 per share. Dangote Cement trailed with N5.45 to close at N116 per share, while Julius Berger appreciated by N1.30 to close at N27.47 per share. Berger Paint rose by 38k to close at N7.98 per share, while Unilever gained 34k to close at N29.40 per share.
Market analysts attributed the market rebound to expectations from financial results of companies whose financial year ended on Dec.31, 2011. On the other hand, NewGold topped the losers’ chart, depreciating by N25 to close at N2, 601 per unit. Guinness followed with a loss of N11.94 to close at N229.56 per share, while Zenith dropped 50k to close at N13.21 per share. UAC Property dipped by 45k to close at N10.45 per share, while First Bank lost 35k to close at N10.60 per share.
The banking sub-sector remained the toast of investors with 152.01 million shares worth N1.1 billion traded in 2, 149 deals. Zenith was the most traded stock in the sub-sector; accounting for 44.5 million shares valued N604.9 million in 381 deals while Fidelity Bank followed with 22.9 million shares worth N33.1 million exchanged in 72 deals.
The consumer goods sub-sector came second on the activity chart as investors traded 36.2 million shares valued at N4.1 billion in 866 deals. Nigerian Breweries traded 24.2 million shares worth N2.4 billion in 228 deals, while Dangote Sugar had 3.5 million shares valued at N13 million exchanged in 115 deals. In all, a total of 234.5 million shares worth N5.4 billion were traded in 4, 003 deals on Tuesday against the 288.9 million shares valued at N4.5 billion traded in 4,165 deals on Monday.

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