Business

Nestle sustains growth profile, hits N1,300 per share

For the third consecutive day, Nestle Nigeria Plc on Wednesday led the gainers’ table, appreciating by N38.84 to close at N1,300 per share.

Unilever came second with a gain of N2.15 to close at N39 95, while Zenith International Bank gained 31k to close at N24.55 per share.

Also, Dangote Sugar improved by 12k to close at N15.42, while International Breweries appreciated by 10k to close at N51.80 per share.

On the flip side, Nigerian Breweries recorded the highest loss, declining by N4 to close at N130 per share while Glaxosmithkline trailed with a loss of N2.45 to close at N22.50, while Flour Mills Nigeria was down by N1.65 to close at N31.50 per share.

Julius Berger dropped by  N1.33 to close at N28, while UACN declined by 68k to close at N16.35 per share.

 At the end of the day’s transaction, the All-Share Index recorded a  growth of 8.69 points or 0.02 per cent to close at 36,608.76 against 36,600.07 posted on Tuesday while  the market capitalisation which opened at N12.738 trillion improved by seven billion naira to close at N12.745 trillion.

A breakdown of the activity chart indicates that Union Bank of Nigeria was the most active, accounting for 70.74 million shares worth N480.18 million.

Custodian and Allied Insurance followed with an exchange of 55.18 million shares valued at N207.02 million, while Tantalisers traded 43 million shares worth N21.50 million.

United Bank for Africa exchanged 31.05 million shares valued at N302.15 million and Fidelity Bank sold 28.36 million shares worth N45.33 million.

In all, investors bought and sold 331.24 million shares valued at N5.56 billion in 3,231 deals against 257.93 million shares worth N3.29 billion achieved in 3,423 deals on Tuesday, an increase of 28.42 per cent.

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