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Bargain hunting in Nestle, Seplat stocks seen lift NSE

...investors gain N52billion

The Nigerian stock market closed in the green zone on Wednesday September 11 as bargain investors moved to take positions in value counters like Nestle Nigeria Plc and Seplat Petroleum Development Company Plc (SEPLAT).

Stocks investors gained approximately N52billion at the sound of closing gong. Nineteen stocks gained against 13 losers.

The Nigerian Stock Exchange (NSE) All Share Index (ASI) increased by 0.39percent while the Year-to-Date (YtD) return stood at -13.61percent. The All Share Index closed at 27,153.53 points as against the preceding day close of 27,047.58 points while Market Capitalisation closed at N13.210 trillion as against preceding day close of N13.158 trillion.

Nestle Nigeria Plc recorded the highest gain, from N1080 to N1120, adding N40 or 3.70percent, followed by SEPLAT which advanced from N426 to N450, adding N24 or 5.63percent.

On the losers table, Guinness Nigeria Plc declined most, from N37.3 to N37, after losing 30kobo or 0.80percent, followed by Flour Mills Plc which dipped from N13.5 to N13.25, after losing 25kobo or 1.85percent.

Courtville, Sterling Bank, Access Bank, Transcorp, and UBA were actively traded stocks on the Nigerian Bourse on Wednesday.

The volume of stocks traded decreased by 41.92percent, from 364.21million to 211.52million, while the total value of stocks traded decreased by 70.18percent from N4.86billion to N1.45billion in 4,365 deals.

 

Iheanyi Nwachukwu

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