NSE: Nestle, Total, Dangote Cement drive gains as Nigerian stocks hit 9-month high

The Nigerian stock market hit reached its highest level since January on Wednesday as the massive rush to purchase heavyweight stocks led by Nestle, Total, Dangote Sugar, Conoil and Flour mills accounted mainly for the day’s N239.026 billion gain.

The rise of the Consumer Goods Index by 5.66% to 517.23 basis points also helped gains.

41 gainers were recorded compared to 5 losers, causing the market to close with a positive breadth.

The All Share Index (ASI) inched up by 1.58%% to close at 29,437.60 basis points while market capitalisation leapt to N15.387 trillion.

Year to date, the index is up by 9.67%.

TOP 5 GAINERS

Nestle led gainers, appreciating by 10% to close at N1,292.50. Custodian grew by 10% to end today’s trade at N6.05. NEM went up by 9.85% to N2.23. International Breweries rose to N6.70, notching up 9.84% in the process. FCMB completed the top 5, climbing up by 9.81% to N2.91.

TOP 5 LOSERS

Royal Exchange topped the losers’ chart today declining by 8% to close at N0.23. Cutix shed 6.84% to end today’s trade at N1.77. Honeywell fell to N0.96, losing 1.03% in the process. Africa Prudential dipped to N5.85, recording 0.85% depreciation. May & Baker closed at N3.05, going down by 0.33%.

TOP 5 TRADES

375.250 million shares estimated at N4.634 billion were traded today in 5,947 deals.

Zenith was the most active stock with 46.663 million of its stocks worth N1.004 billion traded in 510 deals. 33.465 million units of Fidelity shares priced at N76.050 million exchanged hands in 281 transactions. ETI had 27.534 million shares valued at N157.018 million traded in 302 deals. Access traded 26.519 million shares estimated at N205.987 million in 311 transactions. BUA Cement traded 25.018 million shares valued at N1,036 million in 29 deals.

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