Nestle, Dangote Flour, others spur NSE’s positive start

The Nigerian stock market opened this week on a positive note, driven by increased demand for stocks like Nestle Nigeria Plc, Dangote Flour mills Plc, C&I Leasing Plc, Vita foam Nigeria Plc, and that of GTBank Plc.

The Nigerian Stock Exchange (NSE) All Share Index (ASI) gained 0.11percent on Monday July 29, 2019, which helped moderate the record negative month-to-date (MtD) return to -6.73percent and the negative year-to-date (ytd) returns to -11.07percent.

The NSE All Share Index closed at 27,950.36 points against preceding trading day low of 27,918.59 points, while the value of listed equities at N13.621trillion represents N15billion increase as against N13.606 trillion recorded last Friday July 26.

In 3,056 deals, equity traders exchanged 93,112,415 units valued at N1.108billion. Zenith Bank Plc, Transcorp Plc, LASACO Plc, GTBank Plc and Access Bank Plc were actively traded stocks on the Nigerian Bourse.

The share price of Nestle increased by N10 or 0.77percent, from N1300     to N1310, followed by that of Dangote Flourmills which increased by N1.65 or 9.19percent, from N17.95 to N19.6.

Also, C&I Leasing share price increased from N5   to N5.5, adding 50kobo or 10percent; Vitafoam Plc rose from N3.72 to N4.09, adding 37kobo or 9.95percent; while GTBank Plc moved up from N28.45 to N28.7, adding 25kobo or 0.88percent.

On the laggards table, Total led others after its share price declined from    N127.5 to N114.8, losing N12.7 or 9.96percent; ETI followed from N8.45 to N8, down by 45kobo or 5.33percent; Access Bank Plc lost 15kobo or 2.29percent, from N6.55 to N6.4.

Iheanyi Nwachukwu