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Stocks rally in bullish year-end trading on the Exchange

By Helen Oji
04 January 2016   |   3:04 am
Equity transactions on the trading floor of the Nigerian Stock Exchange closed the year on a bullish note, as most blue chip stocks appreciated in price, resulting to a further rise in market capitalisation by N297 billion.
Nigerian Stock Exchange

Nigerian Stock Exchange

Market capitalisation hits N9.55tr
Equity transactions on the trading floor of the Nigerian Stock Exchange closed the year on a bullish note, as most blue chip stocks appreciated in price, resulting to a further rise in market capitalisation by N297 billion.

On Thursday, virtually all the blue chip companies witnessed price appreciations.

Specifically, market capitalisation rose by N297 billion, from N9,553 trillion recorded on Wednesday to N9,850 trillion.

Also, the All-share index was up by 864.42 points or 3.11 per cent from
27,777.83 to 28,642.25.

Analysts attributed the two-day upward trend to end of year rally effects by portfolio managers to enable them close their book on a positive note.

According to them, the market would reverse to the normal trend by this week.

On the price movement chart, Nigerian Aviation Handling Company led the gainers chart with 10.20 kobo to close at N3.78 per share. Transnational Express followed with 9.71 per cent to close at N1.13 per share.

Nigerian Breweries added 9.68 percent to close at N136.00 per share.
Union Bank gained 9.52 per cent to close at N6.90 per share.
Vono gained 8.00 per cent to close at N0.81 per share.

Okomu oil added 6.65 per cent to close at N30.30 per share. EcobankTransNational Incorporated trailed with 6.00 per cent to close at N16.80 per share.

Betaglas gained 4.95 per cent to close at N53.45 per share. Stanbic IBTC added 4.95 per cent to close at N16.53 per share. UPL gained 4.90 per cent top close at N6.00per share.
NPFMicro finance Bank added 4.76 per cent to close at N1.10 per share.

Other gainers in the year-end trading include FO, Airservice, West African Portland Company, adding 4.76, 4.74 and 4.65 per cent to close at N330.00 N2.21 and N96.80 per share.

Continental Reinsurance gained 4.63 per cent to close at N1.13 per share.
Wema Bank gained 4.17 per cent to close at N1.00per share.

African Prudential added 3.32 per cent to close at N2.49 per share.
Mobil gained 3.23 per cent to close at N160.00 per share.

Dangote Cement added 3.06 per cent to close at N170.00 per share. National Salt Company of Nigeria and GlaxoSmithKline also gained 2.88 and 2.86 per cent to close at N7.15 and N34.20 per share.

The banking subsector maintained its dominance in volume terms with 34 million shares worth N300 million. The insurance subsector valued at N6.7 million. The conglomerates ranked third with 7.4 millions worth N16 million.

The banking sub-sector was boosted by activity in the shares of Guaranty Trust Bank with 13 million units worth N236 million while Fidelity Bank followed with 7million units worth N10 million.

In all, investors exchanged 252 million shares worth N3.9 billion in 2,160 deals.

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