• Friday, December 01, 2023
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Investors at Nigerian bourse gain N177billion as stocks rally


  At the Nigerian Stock Exchange (NSE) last week, investors gained about N177billion, a development which market watchers linked to rally witnessed across most value stocks.

As buy decisions pervaded the stock market last week thereby impacting stocks pricing, major gains in some blue-chips helped to boost market capitalisation to N10.721trillion against N10.544trillion at the beginning of trading last week.

Also, the Nigerian Stock Exchange (NSE) All Share Index (ASI) which opened last week at 32.950.08 points crossed 33,000 psychological level to close last week at 33,506.87 points.

Only last Friday, equity dealers exchanged 296,258,541 shares worth N3.085billion in 4,568 deals. Dangote Cement plc led gainers after adding N5, from N150 to N155; followed by Okomu Oil plc which gained N2, from N59 to N61.

Other gainers last weekend are Cadbury Nigeria plc which rose from N34.20 to N34.95, adding N0.75; International Breweries plc which gained N0.55, from N21.30 to N21.85; while Berger Paints plc rallied from N9.96 to N10.45, adding N0.49.

On the losers table, NewGold Exchange Traded Fund (ETF) lost N11, from N2,491 to N2,480; followed by Nestle Nigeria plc which dipped by N10, from N870 to N860. The price of FGN Bond ‘FG9B2022S1’ declined from N132.10 to N128.82, after losing N3.28; Guinness Nigeria plc dipped by N2, from N267 to N265; while MRS declined from N26.18 to N24.88, losing N1.30.

Deals recorded in the shares of Access Bank plc, United Bank for Africa plc, Unity Bank plc, Wema Bank plc, and GTBank plc helped to bolster the volume of  transactions recorded at the Nigeria bourse last Friday.

Dealers exchanged 43,145,063 shares of Access Bank plc worth N443,596,883.09; 27,457,018 shares of United Bank for Africa plc worth N231,234,444.88; 22,265,786 shares of Unity Bank plc worth N17,894,015.08; 21,519,665 shares of Wema Bank plc valued at N31,224,859.27; and 17,001,942 shares of GTBank plc worth N423,461,989.51.