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NSE index grows by 2.43%

03 April 2013, 13:03

Lagos  - Transactions on the Nigerian Stock Exchange (NSE) resumed after the Easter holidays on a bullish note with the All-Share Index growing by 2.43 per cent.

The News Agency of Nigeria (NAN) reports that the All-Share Index grew by 815.62 points to close at 34 351.87 from the 33 536.25 posted on March 28.

Similarly, the market capitalisation, which opened at N10.73 trillion, rose by N261 billion to close at N10.99 trillion as a result of price appreciation by some blue chip stocks.

Total led the gainers' chart, gaining N10.95 to close at N180 per share.

It was followed by Nestle which gained N10.02 to close at N960.02 per share, while Okomu Oil gained N7.25 to close at N79.75 per share.

Dangote Cement appreciated by N7.25 to close at N79.75 per share, while Lafarge WAPCO rose by N4 to close at N80 per share.

Analysts attributed the growth to the review in NSE circuit breaker from five per cent to 10 per cent for all stocks with exception of those trading at 50k par value.

The appointment of supplementary market makers also influenced the market rebound.

On the other hand, NewGold topped the losers' chart, losing N6 to close at N246 per unit.

Julius Berger lost N2 to close at N51, while NAHCO followed with a loss of 74k to close at N6.75 per share.

Livestock Feeds dipped by 26k to close at N2.41 while Pharma Deko lost 23k to close at N2.07 per share.

In spite of the growth recorded by market indices, the volume of shares traded dropped by 36.23 per cent with 291.26 million shares valued at N4.19 billion traded in 5 317 deals.

NAN reports that this was against the 456.72 million shares worth N3.59 billion traded in 7 340 deals on March 28.

Wema Bank emerged the most traded stock with a total of 36.05 million shares worth N61.27 million exchanged in 149 deals.

Access Bank came second on the activity chart, accounting for 27.35 million shares valued at N283.86 million in 252 deals.


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