Bourse returns 6.88% WtD on renewed investors’ optimism

Adebayo Obajemu

The Nigerian stock market last week grew further, driven by growth in the prices of Airtel Africa, Dangote Cement as well as other 47 stocks.

The All Share Index and Market capitalization grew by 6.88% to settle at 47,554.34 and N25.902 trillion respectively.

An aggregate of 711.6 million units of shares were traded in 16,662 deals, valued at N15 billion.

The market breadth closed positive as 49 stocks gained against 19 stocks that declined in their share prices.

TOP 10 GAINERS

Nigerian Breweries led other gainers last week with 18.67% growth, closing at N48.95 from the previous close of N41.25.

Sovereign Trust Insurance, Prestige Assurance, Cornerstone Insurance and Airtel Africa grew their share prices by 16.67%, 16.22%, 15.91% and 14.17% respectively.

Other top 10 gainers include: BUA FOODS (11.23%), Honeywell Flour (11.22%), PZ (10.47%), MULTIVERSE (10.39%) and UPDCREIT (10.00%) respectively.

TOP 10 LOSERS

NESTLE led other price decliners, shedding 20.67% of its share price to close at N963.90 from the previous close of N1215.

Capital Hotel, SCOA, CWG and Royal Exchange shed 10.00%, 9.30%, 9.09% and 8.97% respectively.

Other price decliners include: PRESCO (-8.71%), CHAMS (-4.35%), CUTIX (-4.25%), Redstar Express (-4.22%) and SEPLAT (-3.57%) respectively.