Africa Business News: Entrepreneurs. Investments. Banking & Finance. Emerging Markets. Start-Ups
Thursday, 27 November 2014
Capital Market Capitalisation Appreciates By N155bn
Stock market activities are beginning to shape up as the Central Bank of Nigeria (CBN) concluded the last MPC meeting for the year with new adjustments including the one per cent increase in MPR.
The Nigerian Stock Exchange (NSE) has sustained the uptrend as the market capitalisation further gained N155billion on Wednesday to close at N11.481 trillion from an opening of N11.263 trillion. Also, the All-Share Index rose by 467.45 points or 1.37 per cent to close at 34,583.29, from the 34,115.84 achieved on Tuesday.
Nestle led the gainers’ chart by N35.01, to close at N900.01 per share. Mobil gained N7.49 to close at N157.39, while Nigerian Breweries grew by N3.06 to close at N163.17 per share.
Flourmill appreciated by N2.17 to close at N45.75, while Guinness went up by N2 to close at N160 per share. On the other hand, International Breweries recorded the highest price loss of 60 kobo, to close at N26 per share. Champion Breweries trailed with a loss of 49 kobo to close at N9.36, while UAC Property dipped by 32 kobo to close at N10.53 per share.
Forte Oil lost 21 kobo to close at N203.99, while Ikeja Hotel depreciated by 16 kobo to close at N35.80 per share. Banking stocks led market volume as Zenith Bank traded 149.71 million valued at N3.12 billion. Skye Bank followed with an exchanged of 117.98 million shares valued at N383.64 million.