Investors Stake N4.7bn on 273m Shares

Investors staked N4.739 billion on shares yesterday, showing an increase of 72 per cent compared to N2.768 billion invested in shares last Friday. Generally, market indicators closed on a positive note as trading resumed for a new week.

Having closed negatively last week, activities of bargain hunters helped to lift the market yesterday, indicating a likely bullish week.

Volume, value of trading, the Nigerian Stock Exchange (NSE) All-Share Index (ASI) and other sectoral indicators went up as Dangote Cement Plc, Nestle Nigeria Plc, among other high cap stocks, booked gains.

Investors committed a total  N4.739 billion in N273.97 million shares in 4,565 deals yesterday compared to N2.768 billion invested in 245.926 million in 3,806 deals last Friday.

The financial services sector attracted the highest value of N2.251 billion invested in 159.182 million shares in 2,343 deals. A further breakdown of the sector indicated that Guaranty Trust Bank Plc led the sector with N741 million staked on 24.905 million shares.

Meanwhile, the ASI rose by 0.70 per cent to close higher at 41,105.38, while market capitalisation added N94 billion to close at N13.573 trillion.  Nestle Nigeria led the price gainers with N45 to close at N1,100 per share. It was trailed by Guinness Nigeria Plc with N9.50 to close at N199.50 per share. Dangote Cement Plc chalked up N2 to close at N222 per share. The stock traded 2.284 million units valued N500.159 million in 63 deals.

Nigerian Breweries Plc garnered N1.26 to close at N177.26 per share, while Forte Oil Plc, Total Nigeria Plc and PZ Cussons Nigeria Plc rallied N1.01, N1.00 and N0.74 respectively.

Conversely, Mobil Oil Nigeria Plc led the price losers with N3.96 to close at N172.04 per share, followed by Unilever Nigeria Plc with N2.30 to be at N46.90.

Ashaka  Cement  Plc  shed N1.00 , while Glaxosmithkline Consumer Nigeria Ple went down by N0.59. Ecobank Transnational Incorporated and FBN Holdings Plc lost N0.26 and N0.20 in that other among other price losers.

Culled from: http://www.thisdaylive.com