• Monday, April 22, 2024
businessday logo


Investors gain most in Nestle, Okomu, Total, others


 Investors in the shares of Nestle Nigeria plc, Okomu Oil Palm plc, Total Nigeria plc, UACN plc, 7-Up Bottling Company plc, Guaranty Trust Bank plc, Ashaka Cement plc, UACN Property Development Company plc, Livestock Feeds plc, and Zenith Bank plc, had cause to smile last week at the Nigerian stock market. Week-on-week (WoW), appreciation in the share prices of these companies surpassed other stocks on the Nigerian bourse. The stock market had opened for four days last week as the Federal Government declared last Friday, March 29, 2013, a public holiday to mark Good Friday.

Conversely, deprecation in the share prices of Dangote Cement plc, PZ Cussons Nigeria plc, and Nigerian Enamelware plc, Cement Company of Northern Nigeria plc, Northern Nigeria Flour Mills plc, Forte Oil plc, International Breweries plc, Presco plc, Eterna plc, and Vitafoam Nigeria plc, impacted negatively on the equity portfolio of their shareholders.

Thirty-four equities appreciated in prices last week, higher than 22 equities in the preceding week. On the other hand, 37 equities depreciated in price lower than 45 equities in the preceding week. One hundred and twenty-six equities remained constant during the week in review, in contrast to one 130 equities of the preceding trading week.

How they gained

For the gainers, Nestle Nigeria plc led by 10.47 percent or gain of N90 last week, from an initial price of N860 to close at N950. Other top gainers are Okomu Oil Palm, which rallied by 18.85 percent or N11.5 kobo from N61 to N72.50.

Total Nigeria gained N8.05 or 5 percent from N161 to N169.05; UACN gained N1.95 or 3.68 percent after rising from N53.05 to N55. 7-Up Bottling Company rose from N47.50 to N49, adding N1.5 or 3.16 percent.

Guaranty Trust Bank also rose from N24.90 to N26.10, adding N1.20 or 4.82 percent; Ashaka Cement joined the top gainers after its share price rose from N23.91 to N24.50, adding N0.59 or 2.47 percent.

UACN Property Development Company rose from N14.24 to N14.80, adding N0.56, or 3.93 percent; Livestock Feeds rose from N2.21 to N2.67, adding N0.46 or 20.81 percent, while Zenith Bank rose from N21 to N21.30, adding N0.30 or 1.43 percent

How they lost

For the loser, Dangote Cement led after its share deprecated by 4.19 percent or N6.50, from N155 to N148.50. PZ Cussons Nigeria followed after declining from N39.50 to N36.71, shedding N2.79 or 7.06 percent. Other top laggards are Nigerian Enamelware that dipped from N33.96 to N32.27, losing N1.69 or 4.98 percent.

Also, Cement Company of Northern Nigeria lost N1.65 kobo or 13.65 percent from N12.09 to N10.44 kobo. Northern Nigeria Flour Mills depreciated by 3.25 percent or N0.80 kobo from N24.60 to N23.80.

Forte Oil declined from N14.33 to N13.65, losing N0.68 or 4.75 percent; International Breweries dipped from N21.85 kobo to N21.20 kobo, losing N0.65 or 2.97 percent; Presco lost 1.87 percent or N0.47 kobo from N25.10 to N24.63; Eterna was another big loser after its shares dropped from N3.63 to N3.30, shedding N0.33 or 9.09 percent, while Vitafoam Nigeria lost 6.48 percent or N0.25 to join the league of top losers last week from N3.86 to N3.61.

Buy tendencies remained upbeat

As buy tendencies remained upbeat on the floors of the Exchange last week, stockbrokers exchanged 1.612 billion shares worth of N13.542 billion in 23,021 deals in contrast with a total of 1.561 billion shares valued at N16.636 billion that exchanged hands the preceding week in 25,255 deals. At the close of trading activities last week, the Financial Services sector accounted for 1.347 billion shares valued at N8.138 billion in 15,076 deals.

The Consumer Goods sector (measured by turnover volume) followed in the activity chart with 76.335 million shares valued at N3.518 billion traded in 3,337 deals. The Banking sub-sector of the Financial Services sector was the most active last week (measured by turnover volume) with 945.036 million shares worth N6.661 billion exchanged by investors in 11,558 deals. Volume in the Banking sub-sector was largely driven by activities in the shares of Unity Bank, Wema Bank, and Skye Bank.

Trading in the shares of the three banks accounted for 450.287 million shares, representing 47.65 percent of the turnover volume recorded by the sub sector last week.