WEEK ENDED FEB 10: NESTLÉ NIGERIA'S SOLO

It was a solo run for high priced Nestlé Nigeria PLC at the Nigerian stock market as it closed double digit down (minus N55.60 per share) way ahead of every other losers in the week ended Friday, February 10.

Last week it had also led losers by going down N70 per share but it was joined in the double digit by Total Nigeria (down N30.96); Forte oil (minus N10.88) and Seplat petroleum which lost N10 per share.

This time, however, closest loser in Naira terms was Nigerian Breweries down N8.11 per share; Forte oil which lost N7.13; 7up Bottling ( minus N5.60) and La Farge Africa down N2.62 per share.

In all there were 38 losers within the week with 7 losing above N1 per share. In addition to the five above, PZ Cussons lost N2.5 and Guinness Nigeria went down by N1.50 per share.

At 19, gainers were fewer and their margin of gain too. In Naira, top gainer was Seplat petroleum up N5 per share, more or less, half way back from the low it ended previous week.

It was followed by four other equities that gained above N1 each per share led by Beta Glass which ended N2 up, Presco up N1.88 then Unilever Nigeria which added just one Naira.

Total deals recorded rose by 6.28% to 13586 but volume and value dropped by 8.76% and 0.01% to 1,052,355,150 units and N803.1bn respectively.

Top six contributed 38.4% in terms of deals but 46.9% in terms of volume and 49.8% in terms of value.

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