Nestle, 11 stocks lift index further by 0.1 per cent

Nestle, 11 stocks lift index further by 0.1 per cent
Trading Floor of NSE

 

Gains recorded by many blue-chip stocks, especially Nestle and 11 stocks lifted the all-share index of the Nigerian Exchange Limited (NGX) further by 0.1 per cent.

Specifically, at the close of transactions yesterday, the All-Share Index (ASI), which measures the performance of quoted companies rose by 59.80 absolute points, representing a gain of 0.12 per cent to close at 48,426.49 points. Accordingly, investors gained N33 billion in value as market capitalisation went up to N26.377 trillion.

The upturn was impacted by gains recorded in medium and large capitalised stocks, amongst which are; Nestle Nigeria, Geregu Power, Nigerian Breweries, May & Baker Nigeria and Nigerian Exchange Group.

However, market sentiment, as measured by market breadth, was negative as 12 stocks gained, relative to 17 decliners.

Analysts at Vetiva Dealings and Brokerage said: “We expect mixed sectoral performance tomorrow amid cherry-picking activities, especially in the banking sector.”

Further breakdown of yesterday’s trading indicated that analysis showed that Thomas Wyatt Nigeria led the gainers’ chart with 10 per cent to close at44 kobo, while Japaul Gold followed with 7.41 per cent to close at 29 kobo. Honeywell flourmills gained 6.14 per cent to close at N2.42 kobo. May&Baker garnered 5.26 per cent to close at N4.

First City Monument Bank added 4.62 per cent to close at N3.40 kobo. Nigerian Breweries appreciated by 4.62 per cent to close at N38.50 kobo. FTN Cocoa garnered 3.45 per cent to close at 30 kobo. GEREGU gained 2.78 per cent to close at N111. Fidelity Bank added 1.71 per cent to close at N4.17 kobo. Nestle gained 1.67 per cent to close at N980. Lasaco appreciated by 1.12 per cent to close at 90 kobo. NGX Group garnered 62 kobo to close at N24.45 kobo.

On the contrary, SCOA emerged the day’s highest price loser with 9.38 per cent to close at 87 kobo while Unity Bank followed with 7.02 per cent to close at 53 kobo. Cornerstone insurance depreciated by 6.25 per cent to close at 45 kobo. Chams lost 4.35 per cent to close at 22 kobo.

Multiverse shed 2.25 per cent to close at N4.35 kobo. Flourmills dropped 1.78 per cent to close at N27.60 kobo. TransNational Corporation of Nigeria (Transcorp) depreciated by 1.68 per cent to close at N1.17 kobo.

Sterling Bank lost 1.44 per cent to close at N1.37 kobo. International Breweries shed 1.14 per cent to close at N4.35 kobo. United Bank for Africa fell by 68 per cent to close at N7.25 kobo. Oando also dropped 51 per cent to close at N3.88 kobo.

Total volume of trades decreased by 20.82 per cent to 146.206 million units, valued at N3.357 billion, and exchanged in 2,810 deals. Transactions in the shares of FBN Holdings (FBNH) topped the activity chart with 59.272 million shares valued at N639.974 million. Geregu Power followed with 14.276 million shares worth N1.535 billion, while Zenith Bank traded 12.510 million shares valued at N275.686 million.

Sterling Bank traded 7.025 million shares valued at N9.688 million, while United Bank for Africa (UBA) transacted 6.916 million shares worth N50.456 million.

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