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SEPLAT, Nigerian Breweries, Flour Mills, other stocks push NSE ASI higher

Nigeria’s stock market moved further high by 0.31 percent on Tuesday August 4, due to increased bargain in SEPLAT, Nigerian Breweries, Flour Mills, Zenith Bank, and UACN. Investors gained about N40billion at the close of trading session.

For SEPLAT, investors at the Nigeria Stock Exchange may have started pricing in their expectations from the new CEO Roger Brown, who resumed on August 1, 2020. He is expected to lead the company into its next phase of growth aspirations following the retirement of the founding CEO Austin Avuru on July 31, 2020 after 10 years.

For those buying Flour Mills shares after the company finished its full year stronger, they are positioning to reap the benefits of a proposed final dividend N1.40 which represents increase of 17percent.

The Nigerian Stock Exchange (NSE) All Share Index (ASI) increased to 24,841.94 points while the value of listed stocks rose to N12.959trillion respectively as against preceding trading day low of 24,766.12 points and N12.919trillion. The market’s negative return year-to-date has decreased to -7.45 percent.

In 4,222 deals, investors exchanged 154,467,244 units valued at N1.457billion. Transcorp, FBN Holdings, Lafarge Africa, Nigerian Breweries and Custodian Investment were actively traded stocks on the Bourse.

SEPLAT led the gainers after its share price moved from day open low of N310.2 to N321, up N10.8 or 3.48percent. Nigerian Breweries also went up from N31 to N32, adding N1 or 3.23 percent. Flour Mill increased from N18.75 N19.5, up 75kobo or 4 percent, Zenith rose from
N16.35 to N16.95, up by 60kobo or 3.67 percent while UACN went up from N6.3 to N6.85, after it added 55kobo or 8.73percent.

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