Nestle sustains growth on NSE

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Nestle Nigeria on Thursday sustained its growth on the Nigerian Stock Exchange (NSE) as the most priced equity to hit N1,410.08, thereby lifting the market capitalisation by N160 billion.

The stock rose by N79.97 to close at N1,410.08 per share.Okomu Oil came second on the gainers’ table, appreciating by N5 to close at N75, while Seplat chalked up N3.31 to close at N501.31 per share.

Nigerian Breweries increased by N3.10 to close at N143.50, while Zenith Bank garnered N1.46 to close at N27.50 per share.

Consequently, the market capitalisation which opened at N13.608 trillion inched N160 billion or 1.18 per cent to close at N13.768 trillion.

Also, the All-Share Index improved by 458.84 points or 1.17 per cent to close at 39,534.14 against 39,075.30 achieved on Wednesday.

Conversely, Total recorded the highest price loss to lead the losers’ table, dropping N11.99 to close at N228.01 per share.GT Bank shed N1.04 to close at N42.01, while Dangote Cement dropped N1 to close at N250 per share.Lafarge Africa dipped 80k to close at N49, while Unilever lost 61k to close at N43.79 per share.

Also, the volume of shares transacted closed higher with an exchange of 1.06 billion shares worth N10.16 billion traded in 8,464 deals.

This was in contrast with a turnover of 703.68 million shares valued at N7.29 billion exchanged in 6,125 deals on Wednesday.

The banking equities maintained leadership as the most active with FCMB Group emerging investors delight, accounting for 154.33 million shares valued at N214.41 million.

It was trailed by FBN Holdings with a turnover of 127.90 million shares worth N1.15 billion, while United Bank for Africa sold 124.75 million shares valued at N1.37 billion.

Zenith Bank accounted for 112.74 million shares worth N3.08 billion, while Fidelity Bank transacted 94.15 million shares valued at N228.72 million.

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