• Saturday, May 18, 2024
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Guinness, Dangote Cement, GSK, others drive market N8bn gain


Share price gain recorded yesterday by Guinness Nigeria plc, Dangote Cement plc, GlaxoSmithKline Consumer Nigeria plc, Guaranty Trust Bank plc and Champion Breweries plc contributed majorly to about N8bn increased in value of Nigerian equities.

The Nigerian Stock Exchanges (NSE) – All Share Index (ASI) stopped its two-day loss path after appreciating by 0.67 percent (272.12) to close at 40,809.32 points from
40,537.20 points the preceding trading day. Market capitalisation also increased to N13.47trn from N13.39trn recorded the preceding trading day.

A total of 21 equities gained on the bourse yesterday while 31 stocks declined, leaving 57 stocks unchanged.

Guinness Nigeria plc led the pack of gainers after its share price rallied by N6.01, from N173.99 to N180; followed by Dangote Cement plc which rose by N6, from N219 to N225.

GlaxoSmithKline Consumer Nigeria plc rose from N60 to N64.74, adding N4.74; the share price of Guaranty Trust Bank plc also appreciated from N28 to N28.9, adding N0.9; while that of Champion Breweries plc garnered N0.43, from N9.02 to N9.45.

On the laggards’ table, Nestle Nigeria plc led the pack after its share price dropped by N19.9, from a high of N1,069.9 to N1,050. It was followed by Seplat Petroleum Development Company which lost N10, from N650 to N640.

Also, Mobil Oil Nigeria plc lost N5.95, from N179.95 to N174; followed by Forte Oil plc, which dropped N224.85 to N219, after its share price lost N5.85. Lafarge
Africa plc dipped by N1.5, from N130 to N128.5.

The value of trade increased by 45.31 percent as investors bought 427.76 million shares worth N11.90bn in 4,342 deals, compared to 294.39 million shares worth N3.49bn traded in 5,097 deals the preceding trading day.

UBA Capital plc, AIICO Insurance plc, and NEM Insurance Company Nigeria plc, Zenith Bank plc, and GTBank plc were the most actively traded stocks on the Exchange