Nestle, Dangote Cement, others boost NSE value by N553.23bn

By CHINEDU IBEABUCHI

Price gains on the equities of Nestle Nigeria Plc, Dangote Cement Plc and 66 others listed on the Nigerian Stock Exchange, NSE, led to N553.23 billion appreciations in total market capitalisation last week.

Nestle Nigeria Plc recorded the highest share price gain, appreciating by N24 to close at N740 per share from N716 per share. This was followed by Dangote Cement Plc that gained N14 to close at N140 per share and Mobil Oil Nigeria Plc rose by N11.19 to close at N120.44 per share, among others.

On the contrary, Unilever Nigeria Plc topped the losers’ chart, depreciating by N2.41 to close at N43.99 per share from N46.40 per share. This was followed by John Holt Plc that lost N0.64 to close at N2.28 per share and BOC Gases Plc dropped by N0.32 to close at N6.24 per share, among others.

A review of the equity price movements indicated that sixty-eight (68) equities recorded appreciation while nine (9) equities recorded price depreciation and prices of one hundred and eighteen (118) equities remained constant. When compared with the preceding week, fifty-two (52) equities appreciated in share value while twenty (20) equities recorded price depreciation and prices of one hundred and twenty-three (123) equities remained constant.

Consequently, the market capitalisation rose by 5.92 per cent to close at N9.89 trillion from N9.22 trillion. Another market indicator, the All Share Index appreciated by 5.91 per cent to close at 30,927.18 points from 29,202.01 points.

Meanwhile, a turnover of 3.259 billion shares valued at N21.636 billion in 34,651 deals was traded last week in contrast to a total of 2.160 billion shares valued at N16.998 billion that exchanged hands penultimate week in 31,241 deals.

The Financial Services sector continued its vibrant dominance in the activity chart (measured by turnover volume) recording the highest trading volume of 2.477 billion shares valued at N15.399 billion exchanged hands by investors in 22,627 deals, representing 76.01 per cent, 71.17 per cent and 65.30 per cent of the volume, value and number of deals executed on the stock market respectively during the week.