Download Index rises by 0.5% as 29 stocks gain

Index rises by 0.5% as 29 stocks gain
After the three consecutive trading days’ losses recorded in the
equities segment of the Nigerian capital market, activities rose on
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 97.09 basis points, from 20,314.08 points to
20,411.17 points.
Similarly, the market capitalisation of listed equities increased by 0.5
per cent or N31bn to N6.432tn up from N6.402tn recorded the
preceding day.
The NSE-30 Index rose by 0.6 per cent or 5.52 basis points from
920.39 to 925.91 points, while the NSE Food/Beverages Index rose by
0.3 per cent or 5.53 basis points to close at 1,666.30 points.
The banking index rose the highest, by 1.1 per cent or 3.17 basis
points, to 283.33, up from 280.16 recorded the previous day.
Market analysts attributed this to renewed interest by some investors
in the market, who were taking advantage of the low prices of shares.
According to them, this was evident in the gains recorded in the share
prices of some highly capitalised stocks on Friday.
Goldlink Insurance Company Plc recorded the highest price
appreciation of the day, rising by five per cent or three kobo to close
at 63 kobo per share.
United Bank for Africa Plc gained five per cent or nine kobo to close at
N1.89 per share.
Oando Plc and Access Bank Plc rose by 4.9 per cent each, to close at
N18.35 and N6.75 per share, respectively.
Nigerian Aviation Handling Company Plc, May and Baker Plc and
Dangote Flour Mills Plc also gained 4.9 per cent to close at N7.40,
N2.75 and N4.04 per share, respectively.
Presco Plc, on the other hand, lost the highest price for the day,
shedding five per cent or 45 kobo to close at N8.55 per share.
Union Bank of Nigeria Plc also lost 4.9 per cent or 41 kobo to close at
N7.81 per share.
Flour Mills of Nigeria Plc and Forte Oil Plc lost 4.9 per cent each to
close at N11.01 and N8.36 per share, while Berger Paints Plc and
Neimeth International Pharmaceutical Plc fell by 4.8 per cent each.
In all, investors staked N2.365bn on 412.02 million shares, in 3,012
deals.
By Udeme Ekwere
PUNCH, February 20, 2012