Stock Market Appreciates by N221bn on Demand for Nestle, Others 

Kayyode Tokede 

The stock market section of the Nigerian Exchange Limited (NGX), yesterday gained N221 billion over investors’ demand for Nestle Nigeria Plc, and 32 others. 

As Nestle Nigeria gained N150 per share or 4.84per cent  to close at N3,250.00 per share, the market capitalisation of listed companies on NGX moved to N126.32 trillion, about  N221 billion or  0.18 per cent increase from N126.1 trillion it opened for trading.

Consequently, the NGX All-Share Index closed at  196,807.15 basis points, representing an increase of   343.93 basis points or 0.17 per cent from  196,463.22 basis points the market closed for trading activities the previous day. 

This brings the NGX ASI Month-to-Date and Year-to-Date returns higher at +2.1per cent and +26.5per cent, respectively.

Sectoral performance was mixed as the NGX Banking Index gained   0.5per cent  and NGX Consumer Goods up by 0.1 per cent while the NGX Insurance Index dipped by 1.6 per cent and NGX Oil & Gas declined by  0.2per cent. 

In addition, the NGX Industrial Goods index closed flat.

The total volume traded declined by 21.3per cent to 634.01 million units, valued at N29.11 billion, and exchanged in 66,286 deals. 

Jaiz Bank was the most traded stock by volume at 137.30 million units, while GTCO was the most traded stock by value at N5.41 billion.

As measured by market breadth, market sentiment was negative (0.8x), as 37 stocks  lost relative to 31 gainers.  

Tripple G Plc (-9.9per cent) and Multiverse (-9.9per cent) led the laggards, while NPF Microfinance Bank Plc(+10.0per cent) and Eterna Plc (+10.0per cent) posted the most significant gains.