Market

Nestle’s share price hits N900 first time in over a month

Nestle Nigeria Plc hit the N900 share price as it appreciated by 9.76% today.

This marks the first time since April 19 that the stock has closed at the N900 level.

In the overall market, the NGX continued its bullish run, posting a 0.11% gain to close at 98,285.33 points, representing a 108.75-point gain from Monday’s 98,176.58 points.

Equities gained N62 billion to close with a market capitalization of N55.598 trillion, from yesterday’s N55.536 trillion.

Year to date, the NGX has recorded a 31.44% gain, though the ASI is still far off from the all-time high of 105,085.25 hit on March 15, 2024.

Market highlights

There was a decline in trading volume to 222.899 million shares, down by 45% from yesterday’s 405.662 million shares. There was also a 23% decline in trading value to N5.15 billion, from yes’s N6.69 billion.

Berger Paints continued its bullish run, gaining 10% today to lead the gainers chart this week, having appreciated by 20.65% already this week. Nestle Nigeria posted a 9.76% gain, followed by Sovereign Insurance’s 8.11%. Royal Exchange Plc gained 7.14%, Tantalizers Plc had a 6.83% gain, while Regal Insurance returned a 5.88% gain.

International Energy Insurance lost 9.70%, while Deap Cap Management lost 8.33%. Wapic Insurance reversed its gain of yesterday and posted a 7.25% loss, as Sterling Holdco also posted a 6.25% loss. Custodian Investment shed 5.88% and FTN Cocoa Processors lost 3.47%.

During the day, GTCO Holdings emerged as the most traded stock, gaining 0.13% with 40.639 million shares traded.

Access Holdings followed, despite a 0.29% decline, with 27.517 million shares traded. UBA experienced a 0.48% loss, trading 23.962 million shares. Transcorp Plc dropped 3.88% with 22.831 million shares traded, while Jaiz Bank gained 0.48% with 11.550 million shares traded.

In terms of value, GTCO was the most traded stock with N1.616 billion, followed by MTN Nigeria which posted 0.22% gain to N506.376 million, UBA with N502.444 million, Access Holdings with N469.130 million, and Nestle Nigeria with N431.636 million.

SWOOTs and FUGAZ Highlight

MTN Nigeria, GTCO Holding, and Zenith Bank were the only shares worth over N1 trillion (SWOOTs) that posted price changes, just like yesterday.

They recorded 0.22%, 0.13%, and 2.2% gains respectively. Other members of the SWOOTs category, Airtel Africa, BUA Cement, BUA Foods, Dangote Cement, Geregu Power, Seplat Energy, and Transcorp Power posted no price changes.

For the tier-1 banks, the trading sentiment was quite mixed as FBN Holdings, Access Holding, and UBA posted 1.09%, 0.29%, and 0.48% losses. GTCO and Zenith posted 0.13% and 2.2% gains respectively.


NewsTimes.Africa.

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