Home / Business and Economy / Nestle crosses N1, 500 to close 2017 at N1, 555.99

Nestle crosses N1, 500 to close 2017 at N1, 555.99

By Chinyere Joel-Nwokeoma
Transactions for the last trading day for 2017 on the Nigerian Stock Exchange (NSE) recorded an upward trend with Nestle Nigeria hitting over N1, 500 mark.

The News Agency of Nigeria (NAN) reports that Nestle garnered N70.99 to close the year at N1, 555.99 per share.

Seplat came second on the gainers’ table followed with a gain of N29.82 to close at N626.22, while Mobil Oil garnered N7.65 to close at N194.60 per share.

Further analysis of the price movement table indicated that Unilever appreciated by 79k to close at N41, while International Breweries added 50k to close at N54.50 per share.

The All-Share Index improved by 252.45 points or 0.66 per cent to close at 38,243.19 against 37,990.74 achieved on Thursday.

Also, the market capitalisation, which opened at N13.519 trillion, rose by N90 billion or 0.67 per cent to close at N13.609 trillion.

On the other hand, Guinness posted the highest loss to lead the laggards’ table, declining by N2 to close at N94 per share.

Eterna Oil dropped 43k to close at N4.06, while NASCON shed 37k to close at N18.50 per share.

Nigerian Breweries declined by 30k to close at N134.90, while FBN Holdings lost 19k to close at N8.80 per share.

NAN reports that the volume of shares traded also closed upbeat, increasing by 74.09 per cent as investors bought and sold 561.27 million shares worth N6.89 billion in 2,722 deals.

This was against the turnover of 322.39 million shares valued at N3.62 billion traded in 3,354 deals on Thursday.

AIICO Insurance was investors’ delight, accounting for 210.89 million shares worth N109.68 million.

Transcorp came second with 99.06 million shares valued at N145.45 million, while Custodian and Allied sold 58.32 million shares worth N216.75 million.

Fidelity Bank transacted 38.85 million shares valued at N95.83 million, while Mobil traded 24.52 million shares valued at N4.17 billion.

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