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News Update (January 10, 2012 10:33 AM...)

NSE Index rises 0.5%


Lagos (WorldStage Newsonline)-- Inspite of the anti-fuel subsidy removal that paralised economic activities across the country, Nigerian equities market closed on a positive note for the second day in the week on Tuesday as the Nigerian Stock Exchange All Share Index (NSE ASI) appreciated by 0.50 per cent to close at 20,802.33 points, compared with the gain of 0.37 per cent (Year-to-Date growth of 0.84 per cent.

Similarly, the Market Capitalization appreciated by 0.50 per cent to close at N6.59 trillion as against the gain of 0.37 per cent on Monday when it closed at N6.56 trillion.

The appreciation in the market was attributed to gains recorded in the share prices of stocks such as Zenith Bank, Dangote Cement, GT Bank, Flour Mills and Nigerian Breweries.

The total value traded on the floors of the NSE was N1.67 billion, up by 184.89 per cent from N584.97 million recorded yesterday. The total volume traded was 58.21 million in 300 deals.

The three most actively traded stocks were UBA (16.54 million), Fidelity Bank (13.72 million) and First Bank (8.96 million), while the three most actively traded sectors were Financial Services (43.98 million), Consumer Goods (1.41 million) and Oil and Gas (0.31 million).

Story by Nkechi Naeche (nkechinaeche@yahoo.com)

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