Stock Market Returns Highest One- Day Growth YTD Of 5 Per cent

The market grew strongest at the end of closing today, Wednesday December 24th 2014, to deliver the highest one-day return year to date (YTD) driven largely by the renewed investors’ confidence in the market and the bargain values of most blue chips stocks on the Bourse. Trading activities improved in volume term as investors traded 581.90 million shares worth N3.205 billion in 3,448 deals compared to 440.81 million shares worth N4.10 billion in 4,964 deals transacted the previous day. FCMB group Plc., NEM Insurance Plc., Diamond Bank Plc., and Eternal Oil Plc. were the most active stocks in volume terms.

The All Share Index (NSEASI) increased by a record 5.01% or 1,642.82 points to close at 34,428.82 from 32,786.00 the previous day. Market capitalization also surged to N11.402 trillion from N10.82 trillion the prior trading day with a gain of N577.81 billion on Wednesday. The BGL 50 Index followed the general market trend and grew by 5.33% to 147.42 from 139.95 while its market capitalization rose to N10.66 trillion from N10.12 trillion the prior day.
Arunma Oteh
The Street Journal reports that 33 of the 92 stocks that were traded today sustained appreciation in value while 15 stocks recorded price declines. At the top of the gainers’ chart was Seplat Petroleum Dev. Co. Plc. whose shares appreciated by 10.24% to close at N322.11 per share. The stock became investors’ toast on the announcement of possible merger with Afren Plc. – a bigger Nigerian oil and gas peer quoted on London Stock Exchange (LSE). It was followed by Guinness Nig. Plc. with a gain of 10.24% to close at N151.87 per share. Other stocks on the gainers’ chart include; Presco Plc., Dangote Cement Plc. and Champion Breweries Plc. on the decliners’ chart, Wapic Insurance Plc. led with a loss of 4.55% to close at N0.63 per share. It was followed by Sterling Bank Plc. with a loss of 4.12% to close at N2.33 per share. Others on the decliners’ chart are; Okomu Oil Palm Plc., Mansard Insurance Plc. and Honeywell Flour Mill Plc.

On the BGL 50 Index gainers’ chart, Seplat Petroleum Dev. Co. Plc led others with 10.24% to close at N322.11 per share. Guinness Nig. Plc. followed with a gain of 10.24% to close at N151.87 per share. Other gainers include; Presco Plc., Dangote Cement Plc., and Nigerian Aviation Handling Co. Plc. On the flipside, Wapic Insurance led the Thisday BGL 50 Index decliners with loss of 4.55% to close at N0.63 per share. It was followed by Sterling Bank Plc., with loss of 4.12% to close at N2.33 per share. Others on the decliners’ chart include; Okomu Oil Palm Plc., Mansard Insurance Plc., and Honeywell Flour Mill Plc.

Author: News Editor

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