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Nestle Lifts Stock Market by 0.05%

By Modupe Gbadeyanka

Transactions of the floor of the Nigerian Stock Exchange (NSE) closed in the green territory on Tuesday in contrast to the loss recorded on Monday, Business Post reports.

Our correspondent further reports that the stock market appreciated by 0.05 percent, while the market breadth ended positive with 23 stocks appreciating in price compared with 18 stocks that depreciated in price.

Similarly, the year-to-date return finished at 4.60 percent, while the All-Share Index (ASI) gained 15 points to close at 28,093.30 points and the market capitalisation added N5.2 billion to finish at N9.712 trillion.

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The volume of shares transacted by investors on Tuesday went up slightly compared with what was achieved the previous day. While investors exchanged a total of 213 million shares today in 3,908 deals worth N2.2 billion, a total of 208 million shares were traded yesterday in 3,498 deals valued at N3.7 billion.

At the close of trading activities, Nestle gained N14 to close at N850 per share, while Nigerian Breweries advanced by N3.16k to finish at N144 per share.

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GlaxoSmithKline rose by 57k to end at N16 per share, Ecobank appreciated by 31k to close at N9.62k per share and Air Service progressed by 20k to finish at N4.27k per share.

On the flip side, Total Plc lost N9.99k to end at N260.1k per share, while Dangote Cement depreciated by 99k to finish at N162.1k per share.

Furthermore, UBA declined by 23k to close at N6.99k per share, CCNN weakened by 22k to finish at N4.61k per share and Dangote Flour fell by 21k to end at N4.13k per share.

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On the activity chart, the Financial Services sector dominated with First Bank trading 27.9 million shares at N113.1 million.

Diamond Bank exchanged 27.7 million shares worth N24.7 million, Fidelity Bank transacted 19.2 million shares valued at N18.3 million, GTBank traded 14.3 million shares at N458.8 million, while Zenith Bank transacted 12.8 million shares at N226.7 million.

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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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