Nigerian Stocks Open Week Strong as Nestle Leads Gainers

By Modupe Gbadeyanka

Activities resumed on the floor of the Nigerian Stock Exchange on Monday and at the close of buying and selling of equities, the stock market rose by 0.07 percent, extending the upward movement to four straight session.

This resulted in the All-Share Index improving by 18.39 points to close at 25,671.55 points, while the market capitalisation finished at N8.9 trillion after gaining N3.9 billion.

However, the market breadth closed negative with 13 stocks appreciating in price compared with 22 stocks that depreciated.

Nestle led the gainers’ chart with a gain of N19.99k to close at N750 per share, while Mobil followed with a rise of N14 to finish at N294 per share.

GTBank appreciated by 85k to close at N27.15k per share, Ecobank increased by 10k to finish at N9.80k per share, while NAHCO improved by the same margin, 10k, to end at N2.10k per share.

On the flip side, Guinness topped the losers’ log after going down by N3.32k to close at N63.18k per share, while Julius Berger depreciated by N1.95k to end at N38 per share.

Dangote Cement crashed by N1 to finish at N165 per share, UACN went down by 49k to close at N13.51k per share and Cadbury declined by 21k to wrap the day at N7.80k per share.

The volume of shares traded on the floor of the NSE on Monday, according to Business Post correspondent, improved significantly with investors transacting a total of 495 million shares in 2,587 deals worth N2.6 billion in contrast to 151.4 million units traded last Friday in 2,325 deals valued at N1.9 billion.