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Stock Market Extends Rally as Nestle Tops Gainers Again

By Modupe Gbadeyanka

For the second straight day, Nestle led the advancers’ chart on the floor of the Nigerian Stock Exchange (NSE), improving by N9.44k to close at N734.99k per share on Friday.

Yesterday, the share was the biggest gainer at the market, going up by N34.55k to close at N725.55k per share.

Its performance today, with the 15 other stocks on the gainers’ chart, pushed the stock market further by 0.27 percent, leaving the market to close the week positive.

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At the wrap of trading activities on the NSE on Friday, the All-Share Index rose by 67.65 points to close at 25,238.01 points, while the market capitalisation ended at N8.734 trillion after increasing by N23.4 billion.

Other gainers at the market today were Unilever, which rose by N2.90 to close at NN32.30k per share; Julius Berger, which advanced by N1.59k to finish at N40.25k per share; Dangote Cement, which progressed by N1.25k to end at N161 per share; and Forte Oil, which improved by N1.17k to close at N51.67k per share.

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Business Post reports that the volume of shares transacted on the floor of the stock market today closed higher with investors exchanging a total of 245.4 million shares in 3,260 deals valued at N2.3 billion compared with the 216 million units traded on Thursday in 3,279 deals worth N2.2 billion.

Total Plc led the 16 stocks that depreciated on Friday after dropping N12 to close at N272 per share, while Guinness trailed with a loss of N1.99k to end at N66.1k per share.

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Lafarge declined by 77k to finish at N36.28k per share, Nigerian Breweries depreciated by 36k to close at N130 per share and Ecobank weakened by 27k to end at N10.3k per share.

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Modupe Gbadeyanka is a fast-rising journalist with Business Post Nigeria. Her passion for journalism is amazing. She is willing to learn more with a view to becoming one of the best pen-pushers in Nigeria. Her role models are the duo of CNN's Richard Quest and Christiane Amanpour.

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