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NSE: Stocks hit 16-month high as company results drive gains

The market value of companies on the Nigerian Stock Exchange (NSE) hit its highest level in 16 months on Friday, helped by positive sentiments boosted by early third-quarter earnings of quoted firms.

Bellwether stocks in the consumer goods, oil and gas and insdustrial sectors including Nestle, Mobil, Total, Dangote Cement and BUA Cement were instrumental in the uptrend.

The Consumer Goods Index advanced the most of the five sectorial indices, scaling up by 5.58% to 546.09 basis points.

The market recorded ended with a positive breadth, causing 43 gainers to emerge against 11 losers.

The All Share Index (ASI) leapt by 3.71% to end the day at 30,530.69 basis points. Market capitalisation added N571 billion, rising to N15.958 trillion.

Year to date, the index is up by 13.74%.


Mansard topped the gainers’ chart, appreciating by 10% to close at N2.20. NNFM added up 10% to end trade at N5.06. CAP went up by 10% to N20.35. Fidson leapt to N4.18, notching up 10% in the process. Iternational Breweries completed the top 5, climbing up by 10% to N7.37.

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


Prestige led losers, declining by 10% to close at N0.54. Omatek shed 7.69% to end trade at N0.24. NAHCO fell to N2.10, losing 5.41%. Cornerstone slumped to N0.58, recording 3.33% depreciation. Jaiz closed at N0.58, going down by 3.33%.


807.811 million shares estimated at N10.501 billion were traded in 8,113 deals.

UBA led trade with 108.551 million units of its stocks worth N816.687 million traded in 472 trades. 94.738 million units of Access shares priced at N746.941 million exchanged hands in 546 transactions. FBN Holdings had 89.545 million shares valued at N581.457 million traded in 546 deals. Zenith traded 75.231 million shares estimated at N1.655 billion in 788 transactions. GTB traded 56.224 million shares valued at N1.803 billion in 441 deals.

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