Nestle, Flourmills, FBN Holdings spur NGX-ASI to rise by 0.32%

Nigeria’s equities market rose by 0.32 percent or N178billion on Thursday, thanks to Nestle, Flourmills and FBN Holdings that led the league of major advancers on the Lagos Bourse.

FBN Holdings increased from N24 to N26.40, adding N2.40 or 10percent. Caverton rose from N2.10 to N2.31, up by 21kobo or 10percent.

Flour Mills moved from N45.05 to N49.55, up by N4.50 or 9.99percent. RT Briscoe increased from N3.02 to N3.32, down by 30kobo or 9.93 percent, while Nestle rallied from N810 to N890, N80 or 9.88percent.

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At the close of trading, the Nigerian Exchange Limited (NGX) All Share Index (ASI) and equities market capitalisation increased from 96,715.04 points and N55.575 trillion respectively to 97,025.17 points and N55.753 trillion.

Access Holdings, FBN Holding, UBA, Caverton and Zenith Bank shares were most trading stocks. In 9,615 deals, investors exchanged 390,546,861 shares valued at N7.974billion.

Ahead of Thursday’s trading, analysts said broader market sentiment will remain balanced, with risk-averse investors maintaining a cautious stance ahead of any major corporate earnings announcements.