Equities Market rebounds on gains of NESTLE, Dangote Cement, Nigerian Breweries
The Nigerian equities market began the week on a bright note as the Nigerian Stock Exchange All Share Index (NSE ASI) appreciated by 0.26 percent on Monday to close at 27,316.52 points in contrast to a depreciation of 0.12 percent recorded last Friday to close at 27,246.88 points.
Similarly, the Market Capitalization appreciated by N23.9 billion to close at N9.381 trillion compared with last Friday’s depreciation of N11.7 billion to close at N9.357 trillion.
The appreciation recorded in the share prices of Nestle which added N5.02 to close at N825.02 per share, Dangote Cement that added N2.99 to close at N183 per share, Nigerian Breweries N2.42 to close at N132.92 per share, Unilever’s shares growth of N1.75 to close at N36.75 per share and Wapco which grew by N1.72 to close at N55 per share, were mainly responsible for the growth recorded in the NSE ASI, reducing Year-to-Date (YTD) returns to -4.63 percent.
The total value of stocks traded on the floors of The NSE on Monday was N2 billion, up by 50 percent from N1.33 billion recorded on Friday.
The total volume of stocks traded was 213.6 million in 3,742 deals.
The day’s top five losers were Forte Oil which dropped N8.26 to close at N161.3 per share, Seplat Petroleum Plc lost N2 to close at N240 per share, Guinness fell by N1.5 to close at N93.5 per share. CAP Plc declined by N1.4 to close at N27.3 per share and Conoil Plc depreciated by N1.19 to close at N22.77 per share.
The top three traded stocks today were: Zenith Bank which sold 45.8 million shares worth N696.8 million, FBN Holdings 23.2 million shares worth N72.4 million and Diamond Bank exchanged 19 million stocks worth N21.8 million.
