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Sunday, 12 March 2017

Nestle, Unilever, lead NSE N72bn gains

By Nkiruka Nnorom

Positive investors’ disposition towards shares of companies in the consumer goods industry, particularly Nestle Nigeria Plc and Unilever Plc, last week pushed activity in the Nigerian Stock Exchange, NSE, to a positive close as investors recorded N72 billion gains.

At the close of trading, the equities capitaisation, which represents investors’ wealth, went up to N8.734 trillion from N8.656 trillion the previous week, representing 0.9 per cent increase.

Also, the All Share Index, ASI, appreciated by 225.93 basis points to close at 25,238.01 points from 25,012.08 points.

Activity across the sectors closed strong with the consumer goods sector appreciating the most at 5.23 per cent driven by 16.96 per cent and 11.46 per cent gains in Nestle Nigeria Plc and Unilever Nigeria Plc respectively. The banking and insurance sector recorded marginal increases, recording 0.1 per cent and 0.03 per cent returns respectively.

The NSE 30 index appreciated by 1.34 per cent, while the Alternative Securities Market, AseM, index closed flat at 1,193.52 points.

On the other hand, the industrial goods sector fell by 2.94 per cent on account of losses on Lafarge Africa Plc, followed by the oil and gas sector that fell by 2.36 points.

Gainers and losers

Nestle topped 23 other gainers that emerged during the week, rising by N106.57 or 16.96 per cent to close at N734.99, followed by Unilever with N3.32 or 11.46 per cent gains to close at N32.30, while N.E.M Insurance Plc chalked 9.64 per cent to close at N0.91. Honeywell Flourmills Plc, Continental Reinsurance Plc, Paints and Coatings Manufactures Plc and Newreat ASL Nigeria Plc appreciated by five per cent, 4.95 per cent, 4.84 per cent and 4.68 per cent to close at N1.05, N1.06, N0.65 and N2.91 in that order. Transnational Corporation of Nigeria, Transcorp Plc, was the next as it rose by 4.35 per cent to close at N0.72, while Champion Breweries Plc and Julius Berger Nig. Plc were back 4.26 per cent and 4.11 per cent to close at N2.45 and N1.59 respectively.

On the other hand, African Prudential Registrars led 23 other losers with 15.56 per cent to close at N2.28, followed by United Capital Plc with 15.09 per cent to close at N2.42; NAHCo depreciated by 12.00 per cent to close at N2.20; 7up Bottling Company Plc went down by 9.47 per cent to close at N86.00, while Livestock Feeds Plc closed as the last on the top five losers’ chart, falling by 9.46 per cent to close at N0.67 per cent per share.

Volume, value traded

A total turnover of 1.024 billion shares worth N12.464 billion in 16,400 deals were traded by investors in contrast to1.387 billion shares valued at N13.726 billion traded the previous week in 15,422 deals.

The financial services sector, measured by volume, led the activity chart with 850.758 million shares valued at N7.083 billion traded in 10,358 deals; thus contributing 83.12 per cent and 56.83 per cent to the total equity turnover volume and value respectively.

The consumer goods sector followed with 78.421 million shares worth N3.900 billion in 2,545 deals, while the third place was occupied by conglomerates sector with a turnover of 46.196 million shares worth N70.668 million in 536 deals.

Trading in the top three equities namely – Zenith International Bank Plc, Access Bank Plc and FBN Holdings Plc, measured by volume, accounted for 412.251 million shares worth N4.234 billion in 4,633 deals, contributing 40.27 per cent and 33.97 per cent to the total equity turnover volume and value respectively.

A total of 6,686 units of Federal Government Bonds valued at N5.583 million were traded this week in seven deals, compared with a total of 375 units valued at N447,055.02 transacted last week in five deals.


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