Mar­ket cap adds N50bn on Nes­tle per­for­mance

Daily Trust - - BUSINESS - From Sun­day Michael Ogwu, La­gos

The eq­uity mar­ket yes­ter­day ral­lied on the shares of Nes­tle Nigeria to add N50 bil­lion to the mar­ket cap­i­tal­iza­tion to close at N13,147 tril­lion.

The NSE ASI ap­pre­ci­ated by +0.38% to close at 38,144.02 ba­sis points as against +1.26 per cent ap­pre­ci­a­tion recorded pre­vi­ously. Its Year-to-Date (YTD) re­turns cur­rently stands at +41.93 per cent.

Mar­ket breadth closed neg­a­tive as Guin­ness led 21 Gain­ers as against 23 Losers topped by Cham­pion at the end of to­day’s ses­sion- an unim­proved per­for­mance when com­pared with pre­vi­ous out­look.

Mar­ket turnover closes pos­i­tive as vol­ume moved up by +50.61 per cent as against -14.25 per cent downtick recorded in the pre­vi­ous ses­sion. JAIZBANK, FCMB and FBNH were the most ac­tive to boost mar­ket turnover. NES­TLE and NB topped mar­ket value list.

The bank­ing stocks of Jaiz bank, FCMB, FBNH and ac­cess bank over 168 mil­lion shares val­ued at around N500 mil­lion.

JAIZBANK leads the list of ac­tive stocks that recorded im­pres­sive vol­ume spike at the end of to­day’s ses­sion, while the shares of Nes­tle Nigeria ramped up by N45.07 to close at N1200 per share.

The sum­mary of the mar­ket ac­tiv­i­ties shows that, a to­tal of 328 mil­lion shares val­ued at N6.1 bil­lion ex­changed hands in 4,983 deals.

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