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Guinness, Cadbury, Stanbic Bolster Stock Market Last Week

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  • Guinness, Cadbury, Stanbic Bolster Stock Market Last Week

The Nigerian Stock Exchange (NSE) sustains bullish run last week as stocks of Guinness Nigeria, Cadbury Nigeria, Stanbic IBTC, etc bolstered market value.

The market capitalisation of listed equities appreciated by 0.25 percent or N32 billion to close the week at N13.168 trillion, up from N13.136 trillion recorded in the previous week.

While the NSE All-Share Index gained 63.07 basis points from 25,204.75 basis points achieved in the previous week to close at 25,267.82 basis points last week.

Despite economic headwinds the bourse has continued to expand, gaining 9.76 percent in the month of June and 18.63 percent in the second quarter of the year. The year-to-date return moderated from over -12 percent in the first quarter to -5.86 percent in the second quarter.

Activity level was low when compared to the previous week, this is largely due to the Eid al-Fitr holidays declared by the Federal Government on Monday 25th and Tuesday 26th of May.

Total shares of 1.255 billion valued at N13.501 billion were exchanged in 20,554 deals last week, down from the 1.718 billion shares worth N18.849 billion traded in 26,367 deals in the previous week.

In terms of the volume traded, the financial services sector led with 953.356 million shares valued at N8.236 billion transacted in 10,931 deals. The sector contributed 75.94 percent and 61 percent to the total shares and value traded during the week.

This was followed by the industrial goods sector with 64.245 million shares worth N1.785 billion in 2,000 deals.

The consumer goods sector added 62.487 million shares valued at N1.434 billion but exchanged in 3,427 deals.

The FBN Holdings Plc, Zenith Bank Plc and Guaranty Trust Bank Plc were the three most traded shares by volume, accounting for 494.748 million shares worth N6.618 billion in 5,566 deals.

The three contributed 39.41 percent and 49.02 percent to the total equity turnover volume and value, respectively.

Top Gainers

NEIMETH INTERNATIONAL PHARMACEUTICALS
SKYWAY AVIATION HANDLING COMPANY PLC
AXAMANSARD INSURANCE PLC
CUTIX PLC.
GLAXO SMITHKLINE CONSUMER NIG. PLC.
GUINNESS NIG PLC
JAIZ BANK PLC
MAY & BAKER NIGERIA PLC.
CADBURY NIGERIA PLC.
STANBIC IBTC HOLDINGS PLC

Top Losers

REGENCY ASSURANCE PLC
ARDOVA PLC
LEARN AFRICA PLC
ECOBANK TRANSNATIONAL INCORPORATED
TRANSNATIONAL CORPORATION OF NIGERIA PLC
VITAFOAM NIG PLC.
DANGOTE CEMENT PLC
AFROMEDIA PLC
AFRICA PRUDENTIAL PLC
WAPIC INSURANCE PLC

CEO/Founder Investors King Ltd, a foreign exchange research analyst, contributing author on New York-based Talk Markets and Investing.com, with over a decade experience in the global financial markets.