Blue chip equities lead bullish transactions on NSE reopening

Nestle was the highest gainer on Monday.

Some blue chip equities led a bullish price rally as transactions on the Nigerian Stock Exchange, NSE, reopened on Monday for the week.

Some of these companies which topped the gainers’ chart during the day’s trading, included Nestle Nigeria PLC, which gained about N51.10 to close at N1,150 per share.

Seplat Petroleum came a close second on the gainers’ chart with N24.90 to end the day at N700, while Total rose by N8.55 to close at N179.60 per share.

Equally, Mobil Oil grew by N6.55 to close at N137.55, while Oando Oil appreciated by N1.89 to close at N29.25 per share.

Consequently, the NSE All-Share, ASI, appreciated by 714.93 points, or 1.71 per cent to close higher at 42,482.49 against the 41,767.56 achieved on Friday.

Also, the market capitalisation, which opened at N13.791 trillion, rose by N236 billion, or 1.71 per cent to close higher at N14.027 trillion.

On the other hand, Cadbury Nigeria PLC topped the losers’ chart, dropping N1.89 to close at N80 per share.

GlaxoSmith followed with a loss of N1 to close at N64, while Presco dipped 99k to close at N35.01 per share.

Ashaka Cement lost 49k to close at N28.51, while Nascon lost 40k to close at N11 per share.

In all, a total of 408.487 million shares valued at N7.56 billion, were exchanged in 5,878 deals, representing a growth of 24.32 per cent.

The performance was against a turnover of 328.564 million shares, worth N4.20 billion, achieved in 4,216 deals on Friday.

Transcorp PLC emerged the most traded stock during the week, accounting for 67.57 million shares valued at N346.78 million in 626 deals.

It was trailed by UBA, which sold about 46.70 million shares worth N365.92 million in 143 deals, while Oando accounted for 42.21 million shares, valued at N1.24 billion traded in 1,249 deals.

Julius Berger traded 40.46 million shares, worth N2.89 million, transacted by investors in 13 deals, while investors in Continsure staked N31.96 million on 29.33 million shares in 11 deals.


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