SEPT 13, 2017: NESTLE REGAINS 66.5% OF PRICE DROP AT NIGERIAN SE

At the Nigerian stock market today, bluest of the Nigerian blue chips, Nestlé Nigeria regained 66.5% of the whopping N59.80 per share it lost yesterday.

Nestlé had closed at N1150.20 per share yesterday in a market leading drop but today, opened at N1092.80 per share which turned out to be day low and closed at N1190.00 per share, up 3.46%.

It also recorded 66 deals for 0.187m shares worth N209.48m, 3rd highest traded value for the day.

Its strong rally aided by Unilever, up N2 or 4.76%, moved consumer goods index up 1.14% to 952.07 which eventually helped punctuate drop in All shares index with 0.19% increase to 35464.34.

If not most sectoral indices closed down as 21 drops were recorded compared to 16 gains.

The price losers were led in both Naira and % terms by Presco down 4.99 % or N3.19 per share as it opened and closed the day at N60.80 per share after closing yesterday at N63.09.

Presco also recorded 41 deals for 0.452m shares for N27.54m.

Oando PLC, which held a trying annual general meeting this week, trailed % wise with 4.89% drop or N0.33 per share. It closed yesterday at N6.75 per share, opened lower at N6.51 then slipped to day low and close of N6.42 per share.

All trading indicators trended down paced by 69.8% decline in traded value to N1.74bn; 67.9% drop in traded volume to 118.89m and 28.1% decrease in number of deals to 3015.

Trading was scattered far and wide with none in the top 10 recording up to N500m traded value;  20m traded volume and 250 deals.

Top value was recorded in 3rd placed 198 deals in Zenith bank 2nd ranked 12.2m shares worth N281.199m.

On the other hand, top volume was recorded as 13.89m shares of Access Bank changed hands in 2nd highest 226 deals worth N134.69m.

FBN Holdings paced number of deals with 229 deals involving 10.26m shares worth N59.13m.

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