• Tuesday, May 21, 2024
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Blue-chips gain lifts market by N77billion


The capitalisation of Nigerian equities market rose by N77billion driven majorly by gains recorded by blue-chips.

Price gains witnessed in the shares of Nestle Nigeria plc, Total Nigeria plc, Lafarge Cement Wapco plc, Guinness Nigeria plc, and Julius Berger Nigeria plc was a major factor that contributed to the northward trend.

The market capitalisation of equities at the Nigeria bourse closed at N11.583 trillion against the preceding trading day’s N11.506 trillion, while the Nigerian Stock Exchange (NSE) All Share Index (ASI) closed high at 36,236.49 points from 35,994.67 points the preceding trading day.

At the Nigeria bourse yesterday, equity dealers in 6,122 deals exchanged 371,255,376 shares valued at N4.725billion.

Nestle Nigeria plc shares rose by N24.50, from N920.50 to N945; while Total Nigeria plc rallied from N158 to N172, adding N14. Lafarge Cement Wapco gained N7.83, from initial price of N87.17 to N95. Guinness rose from N270.22 to N275, after adding N4.78; while Julius Berger gained N2.09, from N51.50 to N53.59.

On the laggard side, Northern Nigeria Flour Mills plc led after its share price declined from N23.80 to N21.42, losing N2.38. It was followed by Nigerian Breweries which lost N1.77, after its share price dropped from N174.80 to N173.03.

Other top losers are Cadbury Nigeria plc which declined from N43.51 to N42.01, after shedding N1.50; UAC-Properties plc dropped from N17.49 to N16.50, losing N0.99; while Ekocorp plc declined from N4.80 to N4.32, after losing N0.48.