VENTURES AFRICA – The Nigerian Stock Exchange (NSE) has recorded a N34 billion ($213.5 million) rise in market capitalization, following positive year-end earnings from blue chip companies.
Tuesday’s trading at the bourse revealed a 0.29 percent appreciation from N11.905 trillion ($74.76 billion) at the start of business, to close at N11.939 trillion ($74.97 billion), an outcome that strengthens the Exchange’s target for a $1 trillion market cap by 2016.
Companies that topped the gainers list include Forte Oil, which led the chart with a N6.58 ($0.04) gain to close at N70.88 ($0.45). Other gainers were Guinness Nigeria with N6.06 ($0.038) gain to close at N246.02 ($1.54), and Nigerian Breweries, up to N176 ($1.1) after a N4 ($0.025) appreciation.
Indigenous oil firm, Conoil, also managed a N1.92 ($0.012) gain to end the day N40.48 ($0.25).
At the backend of the trading list is Cadbury Nigeria. The company recorded the greatest loss as it share fell by N2.50 to close at N56.50 ($0.35) per share. Zenith Bank, Larfarge Wapco and Unilever also posted marginal losses.
Ehidiamhen Okpamen is a staff writer for Ventures Africa, a Pan-African business magazine and news service company. He attained his Bachelor's Degree in Economics at the American University of Nigeria before going further to obtain a Masters Degree of Science in International Business at Coventry University, United Kingdom. He was recently inducted into the Institute of Strategic Management of Nigeria as an associate member. 
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