NSE ASI adds 1.05% as members approve demutualisation process

FOLLOWING the agreement by members of the Nigerian Stock Exchange (NSE) to begin its demutualisation process on Thursday, lead market indices of the NSE recorded its biggest day gain of 1.05 per cent since December last year, as other sectoral indices closed the day positive.

Consequently, the All Share Index (ASI) increased by 266.14 points to settle at 25,533.82 while the market capitalization added N92.1 billion to close at N8.835 billion.

Price movement chart showed 24 gainers were paid against 9 losers, Airservice led the gainers table led with 9.54 per cent to close at N3.56, Cadbury grew 5 percent to close at N7.98, while Continental Reinsurance increased 4.72 per cent to close at N1.11 per share.

Unilever was fourth on the gainers table with an appreciation of 4.66 percent to close at N33.49 per share and Africa Prudential added 3.40 per cent to close at N2.43 per share.

Cement Company of Northern Nigeria (CCNN) topped the day’s losers with a depreciation of 4.89 percent to close at N4.47 per share, Jaiz Bank followed with a loss of 4.72 per cent to close at N1.21, while AIICO Insurance shed 3.57 percent to close at 54 kobo per share.

Fidson closed at 98 kobo following a decline of 2.97 percent and UACN recorded a decline of 2.26 per cent to close at N13 per share.