APRIL 17, 2019: NESTLE STILL PACING AT NIGERIAN STOCK EXCHANGE

At the Nigerian Stock Exchange on Wednesday April 17, 2019 top priced Nestle Nigeria paced market gains for the 2nd day thus helping to drive the All share market index up

Nestle added N79.7 or 5.31% per share to close at N1580 per share after day low of N1575 representing all day rise from Tuesday's closing N1500.3 per share.

This was as Nestle recorded 84 deals for rare 0.932m shares for leading N1.472bn.

Earlier on Tuesday, it had more or less done a solo with a lone above N1 per share price change through a N48.1 or 3.31% per share top up.

In other words, in 2 days it gain a total of N127.8 per share while recording rare exchange of above 1m shares.

In traded value, Nestle thus accounted for almost  50% of the N3.227bn realised by investors on Wednesday from exchange of 216.012m shares in 4025 deals compared to 2979 deals for 321.357m shares valued at N4.657bn on Tuesday.

In terms of both number of deals and volume, however, the lead was by Access Bank, up N0.6 or 9.92% per share, in which 564 deals were struck for 39.242m shares worth N259.004m.

The All share index closed 2nd day up by 0.76% to 29,970.86 although it was more of a cautious price discovery day paced interestingly by 19 price changes too marginal to be recognised compared to 16 gains and 17 price drops.

Unlike for Tuesday, the push upwards by Nestle was aided by Dangote Cement with 2nd ranked N2 or 1.08% per share rise in 44 deals for 0.219m shares worth N41.270m.

It was a decisive shoulder to the wheel because the market's 2nd highest price equity, Seplat Petroleum paced price decline with N20 or 3.39% per share plunge to N570 from Tuesday's N590 per share in 17 deals for 0.217m shares valued at N124.024m.

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