MARKET CAPITALISATION RISES BY 1.24%

By NBF News

Heavy gains by companies on strong corporate governance lifted equities' performance on the Nigerian Stock Exchange  yesterday.

With 789.86 points in eight trading days,  the benchmark index was brought to its year high of 21.31 per cent.

The index outperformed its emerging market peers except Egypt index with year-to-date increases of 56.31 per cent, Kenya index with 28.25 per cent gains and Germnay index with 24.07 per cent rise.

Trading in the day showed that the NSE All Share index rose by 789.86 points or 3.24 per cent to close at 25,148.48 points, from 24,012.57 points on September 4, 2012.

The day's trading showed that the twin market indicators rose by 1.24per cent

Market capitalisation gained N363bn to close at N8.006trn, from N7.643trn on September 4. UACN Plc led the gainers' table with N1.77 or five per cent to close at N37.18 per share, followed by Nigerian Breweries Plc with N6.28 or five per cent to close at N131.99 per share. LafargeWAPCO Plc gained N2.41 or 4.99 per cent to close at N50.73 per share while Roads Nigeria Plc rose by 44 kobo or 4.98 per cent to close at N9.28 per share. Glaxosmithkline Plc increased by N1.59 or 4.98 per cent to close at N33.54 per share.

On the flip side, Honey Flour Mills Plc lost 10 kobo or five per cent to close at N1.90 per share, while AG Leventis Plc shed seven kobo or 4.96 per cent to close at N1.34 per share.