JULY 20, 2017: NESTLÉ REGAINS N16.50

Nestle Nigeria, the highest priced equity in the Nigerian stock exchange, that yesterday lost N16.50 per share, today, Thursday July 20, 2017, regained the lost grounds.

It closed at N920 per 50k ordinary share, up N16.50 or 1.83% to lead the day's gainers in Naira terms. It also recorded 44 deals for 0.312 units worth 2nd ranked N286.64m.

It was followed in Naira terms by La  Farce Africa which rose by N2.60 per share or 5%.

Another thing remarkable about the day's business was the fact that despite lead drops by Mobil oil ( down by N5.50 per share) and Total Nigeria, down N3.39 per share or 1.31%, the oil and gas index rose marginally to 326.21 from 326.03.

This probably was because, even though both are amongst the 7 equities in the oil and gas basket, Oando gaining N0.28 per share or 3.02% acted an effective counter hence the slight increase.

In the basket, Oando has the highest issued number of shares (12.4bn) and the lowest price per share too (N7.43). By contrast Mobil oil had 360m issued shares and Total had 339m shares but far higher prices: N254 and N256 per share respectively.

In effect, the only equity that could record price change that should have clear impact was Seplat Petroleum but it closed firm.

With the memory of Tuesday's UBA exceptional crossed deal fading, the market settle to normal mood but everything except All shares index trended down.

Traded value was down by 33.8% to N2.15bn; traded volume dropped by 42.2% to 191.4m and deals sealed closed at 3718, down 8.31%.

Lead traded value was clocked as 2nd ranked 18.7m shares were exchanged in GTB in day high 272 deals while closing 1.08% up or by N0.40 per share.

Lead volume on the other hand was recorded when, in a rare trade, 26.75 M units of Prestige Assurance changed hands with no price change and worth of N13.3m.

The market closed with 29 gainers led by Neimeth International and Skye Bank % wise with 9.52% gain each or N0.08 and N0.06 per share respectively.

On the other hand, there 30 price drops 7up Bottling leading in % by going down by 4.99% or N4.74 per share followed by Vitafoam down 4.83% or N0.13 per share.

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