• Monday, December 04, 2023
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Gains by large-cap stocks push market further north


Gains recorded by largely capitalised stocks like Total Nigeria plc, Cadbury Nigeria plc, Mobil Nigeria plc, GlaxoSmithKline Nigeria plc, and Ashaka Cement plc contributed majorly to the N68billion garnered by Nigeria equities market capitalisation yesterday.

As buy pressure continued at the Nigerian bourse, the equities market capitalisation rose from N11.842 trillion to 11.910 trillion, while All Share Index (ASI) gained 0.58 percent or 213.28 points from 37, 046.63 points to 37,259.91 points at the close of trading. This level comes as equity dealers exchanged 468,750,586 shares valued at N4.124billion in 6,228 deals.

The share price of Total Nigeria plc led other stocks at the Customs Street after it gained N11.10, from N158.90 to N170. Cadbury Nigeria plc followed after its share price rose from N48.50 to N53.35, adding N4.85.

Mobil Nigeria plc garnered N4, from N114 to N118. GlaxoSmithKline Nigeria plc rose from N49 to N52.90, adding N3.90; while Ashaka Cement plc rose from N24.55 to N27, after adding N2.45 to make the top gainers list.

On the foot-draggers list, Nigerian Breweries plc, Julius Berger Nigeria plc, Tourist Company of Nigeria plc, Flour Mills of Nigeria plc, and Union Bank of Nigeria plc led others.

The share price of Nigerian Breweries plc dropped from N175 to N173.03, after shedding N1.97; while that of Julius Berger Nigeria plc dipped by N1, from N56 to N55. Tourist Company of Nigeria plc dipped from N4.53 to N4.08, losing N0.45. Flour Mills of Nigeria plc declined from N86 to N85.65, shedding N0.35; while Union Bank of Nigeria plc dropped from N9.70 to N9.35, losing N0.35