NIGERIAN BREWERIES DRIVES ALL SHARES INDEX UP

Top weighted equity in the Consumer products index basket, Nigerian Breweries plc, virtually pushed All shares index up 0.34% today February 20 at the NSE as it gained N4.81 or 4.18% per share.

A fair parcel of 961,323 units had been offered and sold in 113 deals at N119.41 per share.

Being the equity with the highest weight in consumer goods basket and second highest priced after Nestle, it pushed consumer goods up by 2.16% to 581.37 from Fridays 569.06.

Nigerian Breweries was thus the day's top gainer in Naira terms but not the leader by %. Three other equities closed ahead of it led by PZ Cussons up 9.04% by N1.21 per share in 55 deals for 1,481,342 shares. Indeed, because they belong to the same basket, the PZ shift helped give the lift.

Other lead gainers include Diamond bank, up 4.89% or N0.04 per share and NASCON which closed 4.55% up at N7.03 per share.

In all there were only 10 gainers compared to 19 losers which brings out more clearly the NB role in the marginal recovery in ASI.

Actually, virtually every loser did not lose big with top loser both in Naira and % terms being Forte Oil down N2.97 per share or by 5.02% followed by UACN which lost 4.95% or only N0.71 per share.

Compared to last Friday, the day's activities were low key with volume down considerably to 110,016,793 units compared to Friday's 480,000,153 units while number of deals dropped by 0.6% to 2160.

Thus, United Capital led volume and deals with 239 deals for 16,699,201 units. Interestingly, despite its recommended 50k per share dividend for 2016 and rather solid performance in the same year, United Capital ended the day down 0.52% or N0.02 per share for the day high interest recorded.

Zenith international recorded 2nd highest volume and deals with 16,093,035 shares changing hands in 183 deals with marginal 0.07% drop in price per share.

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