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Market sustains bullish trend as index rises by 0.9%

The Citizen by The Citizen
October 23 2014
in Business, Uncategorized
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Trading in equities continued on a bullish note on the Nigerian Stock Exchange yesterday, as more investors took position on stocks hoping for better earnings in the third quarter results.

The All Share Index appreciated 0.87 per cent to close at 39,113.62 points, compared to the increase of 0.29 per cent recorded the preceding day to close at 38,776.67 points.

Market capitalization rose N112bn to close at N12.9trn, compared to the increase of N37bn recorded the preceding day to close at N12.8trn.

The NSE 30-Index gained 0.66 per cent to close at 1,768.10 points, while the Banking Index added 1.32 per cent to close at 402.14 points.

The Insurance Index was up 0.02 per cent to close at 146.79 points, while the Consumer Goods Index appreciated 0.12 per cent to close at 967.67 points.

The Oil and Gas Index increased 0.06 per cent to close at 433.60 points, but the Lotus Islamic Index lost 0.14 per cent to close at 2,534.86 points.

The Industrial Index gained 0.21 per cent to close at 2,604.59 points. The Alternative Securities Market closed flat at 951.09 points.

Costain Plc led the gainers’ table with eight kobo or 9.09 per cent to close at 96 kobo per share, followed by Guinness Nigeria Plc with N14.90 or 8.37 per cent to close at N192.90 per share.

NASCON Plc gained 67 kobo or 7.77 per cent to close at 9.29 per share, while Learn Africa Plc was up seven kobo or 5.30 per cent to close at N1.39 per share.

Cutix Plc rose eight kobo or 4.76 per cent to close at N1.76 per share.

Conversely, Unilever Plc lost N2.12 or 5.01 per cent to close at N40.16 per share, while Ikeja Hotel Plc shed 16 kobo or 4.92 per cent to close at N3.09 per share.

PZ Plc was down N1.24 or 4.47 per cent to close at N26.50 per share, while RT Briscoe Plc declined three kobo or 3.49 per cent to close at 83 kobo per share.

A total of 193.2 million shares valued at N2.66bn were exchanged in 4,302 deals.

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