• Friday, April 19, 2024
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Nestle, Okomu lead other gainers in declining market


  Gains recorded in the shares of Nestle Nigerian plc, Okomu Oil Palm plc, Cadbury Nigeria plc, International Breweries plc, and Guaranty Trust Bank plc placed them above other stocks yesterday at the Nigerian bourse in terms of share appreciation.

This feat by these companies comes on the heels of the stock market which recorded further loss yesterday, evidenced in the decline in its performance indicators –the All Share Index (ASI) and market capitalisation.

The NSE ASI dropped from 33, 467.77 to 33,429.45; while the market capitalisation dipped further from N10.709trillion the preceding trading day to N10.697trillion yesterday. In 5,208 deals, equity dealers exchanged 368,011,371 shares valued at N3.752billion.

Deals in the shares of NPF Microfinance Bank plc, Wema Bank plc, United Bank for Africa plc, Cadbury Nigeria plc, and Access Bank plc boosted the recorded volume of shares traded yesterday at the Exchange.

The shares price of Nestle Nigeria plc rose by N56, from N860 to N916 at the close of transactions on the trading floor of the Exchange. Okomu Oil Palm plc rose from N64.04 to N67.24, after gaining N3.20.

Cadbury Nigeria plc rallied from N33.21 to N34.85, adding N1.64. International Breweries plc followed with N1.29 gain after its share price rose from N20.16 to N21.45; while Guaranty Trust Bank plc which rose from N25.06 to N25.50 added N0.44.

On the losers table, Lafarge Cement WAPCO plc led after its share price dipped from N73.99 to N70, losing N3.99; followed by Dangote Cement plc which dropped from N155 to N151.90, losing N3.10.

Guinness Nigeria plc declined from N265 to N263.01, losing N1.99; Cement Company of Northern Nigeria plc lost N1.21 after its share price dropped from N12.10 to N10.89; while Northern Nigeria Flour Mills plc dipped from N24.60 to N23.80, losing N0.80