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Stocks close higher as bulls consolidate control

10 July 2014, 16:12

Lagos - The Nigerian Stock Exchange (NSE) All-Share Index (ASI) appreciated by 0.41 percent to hit a new high of 43 039.45 on Wednesday as the market rally entered the second day.

Market capitalisation added N59 billion to close higher at N14.212 trillion.

The equities market had witnessed a rebound with a growth 0.24 percent as investors continued to take position of the announcement of second quarter results.

A total of 29 equities recorded gains on Wednesday, while 18 stocks made losses.

A total 209.763 million shares worth N2.284bn were traded in 5 153 deals.

NPF Microfinance Bank Plc topped the gainers’ table, rising by 9.52 percent or eight kobo to close at 92 kobo per share.

Forte Oil Plc and AG Leventis Plc were up by 6.01 percent and 4.80 percent to close at N210 and N1.31 per share, respectively, while RT Briscoe Plc and Royal Express Plc gained 4.72 percent and 3.85 percent to close at N1.11 and 54 kobo per share.

Also, Transnational Corporation of Nigeria Plc rose by 18 kobo to close at N5.65 per share, while Learn Africa Plc recorded a five kobo price appreciation to close at N1.74 per share.

The losers were led by Ikeja Hotel Plc, which fell by four kobo to close at 77 kobo per share.

It was followed by University Press Plc and Continental Reinsurance Plc. While University Press declined by 20 kobo to close at N4.35 per share, Continental Reinsurance was down by three kobo to close at N1.18 per share.

Also among the losers were Caverton Offshore Support Group Plc and Costain (West Africa) Plc, which shed 2.27 percent and 2.17 percent to close at N6.89 and N1.35 per share.

_   NAN

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