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NSE: All Share Index rises as NESTLE, MTNN, CCNN lead gainers



Stock market floor

The Nigerian bourse posted a positive market breadth again today to end the week with a bullish as blue chip stocks led gainers. Improvements were recorded across the key performance parameters with market capitalisation rising to N13.033 trillion. The All Share Index added 0.66% to close at 27,002.15 basis points. Year to date, the index is down by 14.09%.


Food and processing giant, NESTLE PLC led the advancers with 3.85% appreciation that made it close at N1,350. MTNN rose by 1.69% to N120. CCNN ended the week at N20, growing by 5.26% in the process. UACN gained again today as it did yesterday, climbing by 6.67% to N8. GTB inched up by 1.33% to close trade at 1.33%.


STANBIC was first in the gang of losers losing 4.86% to close at 38.15%. Dangote Cement fell for the fourth time this week, dipping by 0.14% with a closing price of N142.8. Cutix crashed to N1.45 by 8.23%. Ikeja Hotel plunged by 9.60% to finish Friday at N1.13. FBN Holdings shed 1.47%, closing at N6.7.


UACN stocks was the most preferred stock today with 42.608 million shares traded for N334.809 million in 255 deals. UBA traded 40.662 million shares valued at N286.635 million in 243 deals. 27.184 million shares of Zenith Bank estimated at N506.209 million exchanged hands in 447 transactions. Nigeria’s largest brewer, Nigerian Breweries recorded a total trade of 21.045 million shares priced at N1.074 billion in 54 deals. Transcorp completed the top 5 on the activity chart with 15.855 million shares estimated at 15.977 million in 64 transactions.


The Board of Directors of Niger Insurance PLC, through Tolg Nominees, the company secretary informed the Exchange today of the appointment of Mr. Edwin Friday Igbiti as its substantive Managing Director/CEO. Mr. Igbiti brings to his new role a wealth of experience including being the immediate past Managing Director/CEO of AIICO Insurance PLC, working in previous capacities that included underwriting sales and claims management. He is a holder of MBA from the University of Ado Ekiti and an Advanced Diploma in Management from University of Lagos. Egbiti is an alumnus of Howard University Business School, U.S.A and holds a number of other qualifications.

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