DEC 10, 2018: NESTLÉ DOWN AGAIN AT NIGERIAN STOCK EXCHANGE

Nestle Nigeria is the top price equity at the Nigerian stock exchange and it is also one listed company subject to so many up and price movement almost on weekly basis.

Last week it closed all week up by N64 per share after gaining N69 per share and shedding N5 within the week.

Come this Monday, December 10, Nestle lost all of last week's gain by closing down N64 or 4.13% per share while witnessing 58 deals involving 0.08m shares worth N120.094m.

This was the pace setter for the 25 price drops recorded for the day that drive the All share index down 0.82% to 30,614.73.

Other major price drops were N14.8 or 8.47% per share decline by 11 Plc as it recorded 41 deals for 0.175m shares valued at N29.722m and Nigerian Breweries N2 or 2.50% per share drop amidst 67 deals for 2.681m shares worth N211.338m.

On the other hand, Forte Oil led 14 price gains with N1.15 or 6.39% per share rise as it found and closed at N19.15 per share compared to N18 previously while witnessing 47 deals through which 1.729m shares were exchanged for N33.319m.

Okomu Oil followed with N1 or 1.39% per share gain while recording 12 deals for 0.099m units worth N7.171m.

Dangote Cement was among the gainers, but up by only N0.2 or 0.11% per share this could not effectively counter the downwards pressure on the ASI led by Nestlé. DangCem ended with 70 deals for 0.640m shares valued at N118.899m.

There were 3193 deals for 164.582m shares worth N1.666bn compared to 2631 deals involving week low 178.994m valued at N1.556bn.

Diamond Bank witnessed day high number of deals and volume with 346 deals for 44.920m worth N45.596m while closing up N0.01 per share.

Close by GTB recorded top traded value of N276.654m in 2nd ranked 335 deals through which 8.020m shares were exchanged.

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