Nestle Lifts NSE Indices by 2.43% as Investors Rake N302b
By Modupe Gbadeyanka
The Nigerian Stock Exchange (NSE) closed bullish for the first time this week on Tuesday with the market closing 2.43 percent higher.
Today’s growth, influenced mainly by gains recorded by Nestle and Dangote Cement, put to an end the two-day bearish run at the Nigerian stock market.
Business Post reports that the All-Share Index (ASI) appreciated by 876.62 pointing to settle at 36,720.62 points, expanding the YTD return to 36.64 percent.
Also, the market capitalisation increased by N302 billion to finish at N12.7 trillion, while the market breadth closed strong with 32 gainers against 20 losers.
Dangote Cement was the most active stock today, exchanging a total of 417.8 million shares worth N87.8 billion.
It was followed by FBN Holdings, which traded 61 million units for N367.5 million, while Access Bank sold 40 million shares valued at N400 million.
UBA exchanged 38.4 million shares at N371.8 million, and FCMB transacted 27.9 million shares worth N33.9 million.
In all, investors traded a total 849.6 million shares in 5,602 deals valued at N94.1 billion, in contrast to 490.2 million shares transacted yesterday in 5,558 deals worth N5.3 billion.
On the price movement chart, Nestle emerged Tuesday’s biggest gainer with an addition of N21.30k to its share price to close at N1,025 per share.
Dangote Cement moved up by N16.25k to end at N240 per share, while Guinness Nigeria appreciated by N1.50k to finish at N66.55k per share.
Furthermore, PZ Cussons advanced by N1.15k to close at N24.15k per share, and Stanbic IBTC grew by N1.9k to settle at N36.99k per share.
On the other hand, Forte Oil lost N4.70k to finish at N57 per share, while Okomu Oil decreased by N4 to close at N76.3k per share.
Lafarge declined by N2.72k to end at N55 per share, Julius Berger depreciated by N1.80k to finish at N34.20k per share, and 7UP went down by N1.59k to settle at N90.30k per share.