Nigerian stock market rises by 0.16%

Nigerian stock market garnered 0.16% yesterday as its performance index close at 29,907.66 points against 29,859.06 points the preceding trading day. The value of listed equities at the Nigerian Stock Exchange (NSE) rose by N16bn yesterday.

This is evidenced in the movement of the market capitalisation from N9.946trn to N9.962trn at the close of trading on Customs Street. The stock market’s year-to- date (YtD) return stood at -13.70 percent.

Twenty-three stocks recorded price increase led by Guinness Nigeria plc, Forte Oil plc, Unilever Nigeria plc, PZ Cussons Nigeria plc, and Seplat Petroleum Development Company plc respectively.

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The share price of Guinness Nigeria plc rose by N2.99, from N129 to N131.99, adding N2.99; Forte Oil plc gained N2.98, from N225 to N227.98; Unilever Nigeria plc appreciated by N1, from N33.5 to N34.5; PZ Cussons Nigeria plc rose by N0.75, from N26.25 to N27; while Seplat rallied by N0.51, from N301 to N301.51.

Volume of stocks traded decreased by 48.15 percent, from 468.18m to 242.76m, while the total value of equities traded de- creased by 21.49 per- cent, from N4.68bn to N3.67bn in 3,892 deals.

Eighteen stocks lost their values led by Lafarge Africa plc, Nigerian Breweries plc, Flour Mills Nigeria plc, Oando plc, and Redstar Express plc respectively.

Lafarge Africa plc lost N0.95, from N82 to N81.05; Nigeria Breweries plc dropped by N0.89, from N144.89 to N144; Flour Mills Nigeria plc lost N0.8, from N39.8 to N39; Oando plc share price dropped by N0.28, from N15.88 to N15.6; while Redstar Express plc dipped by N0.18, from N3.62 to N3.44.