The BULLS Are Back ==>NSE index Rises by 1.29%

The Nigerian stock market on Friday closed on a positive note for the second time this week with major market indicators rising significantly.

The Nigerian Stock Exchange All-Share Index rose by 1.29 per cent or 481.52 basis points to close at 37,790.12 basis points, compared to the 0.46 per cent rise that lifted the index to 37,308.60 basis points in the previous session.

In the same vein, the market capitalisation of the listed equities rose by N155bn or 1.29 per cent to N12.138tn, in contrast to the N55bn appreciation it recorded on Thursday.

The banking subsector led the activity chart, accounting for 68.47 per cent of total turnover traded on Friday.

A total of 212.060 million shares, valued at N3.335bn, were traded in 1,724 deals in the subsector.

Volume in the subsector was driven by trading in the shares of Guaranty Trust Bank Plc, Zenith Bank Plc and United Bank for Africa Plc.

Access Bank Plc and Diamond Bank Plc also recorded high volume turnover in the subsector.

In all, 35 equities appreciated on Friday, while 17 depreciated.

Oando Plc topped the gainers’ table, rising by 10.16 per cent or N1.48 to close at N16.04; followed by UBA Capital Plc with a gain of 9.62 per cent or 20 kobo to close at N2.28 per share.

Fidelity Bank Plc was up by 6.97 per cent or 14 kobo to close at N2.15 per share with Zenith Bank rising by 5.82 per cent or N1.21 to close at N22 per share.

Africa Prudential Registrars Plc gained 5.70 per cent or 15 kobo to close at N2.78 per share, while Transnational Corporation of Nigeria Plc advanced by 5.29 per cent or 20 kobo to close at N3.98 per share.

On the other hand, Flour Mills of Nigeria Plc topped the losers, shedding 9.73 per cent or N7.25 to close at N67.25 per share.

Berger Paints Plc and Portland Paints and Products Plc shed 4.99 per cent each to close at N8.56 and N4.19 per share, respectively, while PZ Cussons Nigeria Plc fell by 4.98 per cent or N1.61 to close at N30.69 per share.

In all, investors traded 309.713 million shares worth N5.060bn in 4,363 deals on Friday.

http://www.punchng.com/business/capital-market/nse-index-sustains-uptrend-rises-by-1-29/