Nestle, Nigerian Breweries, Others Drive Stock Market Up

Price appreciation recorded yesterday by Nestle, Forte Oil and Nigerian Breweries among others led to 0.29 per cent gain in the stock market.

The NSE All-Share Index appreciated by 114.02 points or 0.29 per cent to close at 38,776.67 as against the 38,662.65 achieved on Monday. Similarly, the market capitalisation went up by N34 billion to close at N12.80 trillion from the N12.766 trillion posted on Monday.

Market breadth remained positive with 33 gainers and 15 laggards. Nestle recorded the highest price gain of N5.05 to close at N980.05 per share. It was trailed by Forte Oil gaining N2.50 to close at N214, while Nigerian Breweries appreciated by N1.63 to close at N168 per share.

Wapco rose by N1.22 to close at N118.22 and Oando chalked up 60 kob0 to close at N23.70 per share. Conversely, Unilever led the losers’ chart by N2.22 to close at N42.28 per share. PZ Cussons lost N1.08 to close at N27.74, while Guinness shed 65 kobo to close at N178 per share.

CCNN lost 39 kobo to close at N14.06, while FCMB dropped by 12 kobo to close at N4.07 per share.

In all, investors bought 352.91 million shares valued at N3 billion in 6,171 deals as against 353.8 billion shares valued at N4.15 billion traded in 5,221 deals on Monday.

Mansard Insurance emerged the most traded equity, accounted for 100.1 million shares valued at N300.2 billion. Transcorp came second with 47.02 million shares worth N244.15 million, while FBN Holdings accounted for 19.31 million shares valued N244.9 million.

UBA traded 17.57 million shares worth N103.42 million, while Access Bank exchanged 15.55 million shares valued at N143.92 million.


Source : Leadership

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