Nestle lifts trading on NSE by 0.51%

Activities resumed on the Nigerian Stock Exchange (NSE) for the week on a positive trend with the market indices growing by 0.51 per cent on Nestle gain.

Our correspondent reports that Nestle recorded the highest price gain to lead the gainers’ table, appreciating by N20 to close at N1,500 per share.

Nigerian Breweries came second with a gain of N2.20 to close at N85, while GlaxosmithKline gained N1.20 to close at N13.25 per share.

Flour Mills added 80k to close at N18, while Total rose by 40k to close at N199.50 per share.

Consequently, the All-Share Index which opened at 32,058.28 inched by 163.96 points or 0.51 per cent to close at 32,222.24.

Also, the market capitalisation rose by N60 billion or 0.51 per cent to close at N11.763 trillion compared with N11.703 trillion on Friday.

On the other hand, Forte Oil recorded the highest loss, dropping by N1.60 to close at N19 per share.

Union Diagnostic trailed with a loss of 2k to close at 23k, while Mutual Benefits Assurance also lost 2k to close at 23k per share.

Wapic Insurance lost 2k to close at 40k, while Diamond Bank declined by 1k to close at 85k per share.

However, the volume of shares transacted dropped 10 per cent, while value depreciated by 35.84 per cent.

Specifically, investors bought and sold 148.10 million shares valued at N1.79 billion traded in 2,853 deals.

This was a turnover of 164.56 million shares worth N2.79 billion exchanged in 2,272 deals on Friday.

Oando was the most active stock, accounting for 30.30 million shares worth N154.24 million.

It was followed by Diamond Bank with 16.35 million shares valued at N14.47 million, while United Bank for Africa traded 12.85 million shares worth N100.19 million.

Fidelity Bank sold 11.47 million shares valued at N22.69 million, while Guaranty Trust Bank exchanged 9.16 million shares worth N338.58 million.