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Mobil, Guinness inspire Nigerian equity market to 0.04% gain after Workers’ Day holiday



Stock market extends down trend by 0.47%

Gains by Mobil and Guinness spurred the Nigerian equity market to an upturn after the May Day holiday on Thursday.

The All-Share Index increased by 11.99 points, representing 0.04 per cent appreciation  to close at 29,171.73, the market capitalisation was up by N5 billion or 0.05 per cent to close at N10.963 trillion following gains posted by medium and large capitalised stocks.

In spite of the marginal growth in market indices, the volume of shares traded closed lower as investors bought and sold 279.62 million shares worth N2.82 billion in 4,836 deals.

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This was in contrast with a turnover of 543.92 million shares valued at N8.19 billion exchanged in 4,682 deals on Tuesday.

The price movement table at the Nigerian Stock Exchange (NSE) on Thursday shows that Mobil, an oil firm led the gainers’ table, growing by N9 to close at N186 per share.

Guinness followed with a gain of N1.40 to close at N50, while Nigerian Breweries garnered 75k to close at N65.75 per share, The News Agency of Nigeria reports

Cement Company of Northern Nigeria appreciated by 60k to close at N14.60, while Dangote Sugar increased by 15k to close at N14.05 per share.

Conversely, Presco recorded the highest loss to lead the laggards’ table, dropping by N4.75 to close at N58 per share.

Total trailed with a loss of N2.10 to close at N164, while Conoil was down by 70k to close at N20.10 per share.

Forte Oil lost 35k to close at N34.75, while Lafarge Africa declined by 25k to close at N11.20 per share.

Meanwhile,market indicators opened trading for the month of May with a marginal growth of 0.04 per cent.

Transcorp was the active stock during the day, exchanging 34.91 million shares worth N42.51 million.

Dangote Flour followed with an account of 23.64 million shares valued at N450.08 million, while Chams sold 20.73 million shares worth N10.71 million.

Access Bank traded 19.67 million shares valued at N135.58 million, while Japaul Oil sold 17.07 million shares worth N6.11 million. (NAN)

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