Investors Gain N60b as Nestle Nigeria Lifts Equities Market by 0.45%

By Dipo Olowookere

The Nigerian Stock Exchange (NSE) rebounded on Friday by 0.45 percent after recording three successive losses from Tuesday to Thursday.

The gains achieved at the market yesterday was buoyed by the positive performance achieved by Nestle Nigeria, which appreciated by N27 to close at N1,527 per share.

It was followed by Seplat, which grew by N15 to close at N650 per share, and Lafarge Africa, which rose by N3 to end at N37.50k per share.

CAP went up by N2 to close at N37 per share, while Dangote Sugar increased by 50 kobo to settle at N17.50k per share.

But on the flip side, shares of Flour Mills recorded the highest loss after depreciating by N15 to finish at N29 per share.

Forte Oil went down by N1.30k to close at N29.90k per share, while Cadbury Nigeria reduced by N1.15k to end at N11.15k per share.

Furthermore, Custodian and Allied Insurance declined by 68 kobo to close at N6.12k per share, while Eterna Oil depreciated by 40 kobo to close at N6.40k per share.

At the close of transactions on Friday, the All-Share Index (ASI) surged by 166.33 points to close at 37,392.77 points, while the market capitalisation reduced by N60 billion to finish at N13.545 trillion.

Like in the previous sessions, the Financial Services sector led the activity chart with 163.5 million shares exchanged for N1.4 billion with the Consumer Goods sector following with 27 million units sold for N1.2 billion.

A further look at the table showed that Access Bank was the most active stock, selling 84.9 million shares worth N864.7 million.

It was followed by Dangote Sugar, which sold 15.2 million shares worth N272.6 million, and Sovereign Trust Insurance, which transacted 14.7 million equities valued at N3.3 million.

FBN Holdings exchanged 12.1 million shares worth N125.5 million, while UBA traded 6.6 million equities valued at N65.5 million.

In all, investors bought and sold 212.9 million shares in 3,143 deals valued at N3.24 billion in contrast to the 350.47 million shares traded in 3,228 deals the previous day valued at N4.60 billion