Nigerian Breweries Drags Stock Market Down by 0.12%

By Modupe Gbadeyanka

The Nigerian Stock Exchange (NSE) on Monday opened the week sluggish after losses recorded by Nigerian Breweries and 16 other stocks.

After the close of trading activities on the floor of the NSE, the market went down by 0.12 percent, despite the market breadth closing positive with 26 gainers.

A look at the market indicators showed that the market capitalisation declined by N12.13 billion to close at N9.707 trillion, while the All-Share Index depreciated by 35.08 points to end at 28,078.30 points and the year-to-date return finished at 4.48 percent.

Nigerian Breweries suffered N3.12k loss to close at N140.84k per share, while Presco went down by N1 to end at N48 per share.

Furthermore, Cadbury fell by 53k to finish at N10.12k per share, Ecobank slumped by 49k to close at N9.31k per share and UACN dropped 34k to end at N14.56k per share.

Conversely, Seplat rose by N5.20k to finish at N372.70k per share, Total added N5 to end at N270 per share and Nestle gained N1 to close at N836 per share.

PZ Cussons moved by 90k to end at N18.90k per share, while Okomu Oil also advanced by 90k to finish at N50.90k per share.

At the close of transactions on the floor of the NSE yesterday, investors traded a total of 208 million shares in 3,498 deals valued at N3.74 billion.

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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