NSE: Nestle stocks gain reverses negative sentiments by +0.17 per cent

Equities trading on the Nigerian Stock Exchange (NSE) reversed negative trend as gains from Nestle Nigeria stocks buoyed the market to a positive close.

Precisely, the All-Share Index (ASI) advanced by 0.2 per cent to 24,972.89 points. Accordingly, the Month-to-Date and Year-to-Date losses moderated to -1.2 per cent and -7.0 per cent, respectively.

Trading in the domestic equities market was negative for most of the day, however, Nestle Nigeria trading limit went up by ten per cent at the end of the day’s session, ensured the market record its first gain since June 9, 2020.

Market sentiment, as measured by market breadth, was negative as 24 tickers declined, relative to 10 gainers. Seplat and Neimeth Pharmaceutical were the top losers of the day with ten per cent and 9.6 declines, while Nestle and Cadbury recorded the largest gains with ten per cent and 6.8 appreciation in share value.

However, most sub-sector performances didn’t mirror the market performance as only the NSE Consumer goods index rose by 4.19 per cent. The NSE Banking, NSE Insurance and NSE Oil/Gas tanked by 0.79, 2.95 and 4.37 percentiles respectively.

The total volume of trades increased by 32.7 per cent to 265.96 million units, valued at N2.71 billion and exchanged in 3,564 deals. Guaranty Trust Bank was the most traded stock by volume and value at 43.67 million units and N1.03 billion, respectively.


BREAKING: APC Names Ajimobi Acting Chairman
The National Working Committee (NWC) of the ruling All Progressives Congress (APC), on Tuesday, announced Senator Abiola Ajimobi as its acting National Chairman. This followed affirmation of the suspension of National Chairman of the party, Adams Oshiomhole, by an Appeal Court… Read Full Story

FG Threatens To Sack Striking Doctors As Meeting Ends In Deadlock
Following the failure of the marathon meeting between the Federal Government and the doctors under the auspices of National Association of Resident Doctors (NARD) to reach a compromise, the government on Tuesday threatened to sack all striking doctors who fail to report to work on Wednesday… Read Full Story

I’ll Protect Children Against Sexual Violence ― Buhari
President Muhammadu Buhari has pledged the commitment of the government to protect children from sexual violence, domestic abuse and exploitation as Nigeria join the international community to celebrate the Day of the African Child… Read Full Story

Osinbajo’s Committee Did Not Call For Suspension Of NYSC ― Laolu Akande
Contrary to reports circulating in the mainstream media, Vice-President Yemi Osinbajo did not call for the suspension of the National Youth Service Corps (NYSC), Tribune Online reports. Osinbajo’s Senior Special Assistant on Media and Publicity, Laolu Akande, made this known on Tuesday on Twitter… Read Full Story

Attempt To Link Me With Naira Marley’s Flight Ridiculous ― Fashola
The Minister of Works and Housing, Babatunde Fashola on Tuesday described as ridiculous, attempts to link him with a flight that conveyed hip-hop star, Azeez Fashola is popularly known as Naira Marley, to Abuja for a concert last… Read Full Story

Nigeria Lost N27.5bn To Oil Pipeline Vandalism In 2018 ― Audit Report
The newly published oil and gas 2018 audit report has revealed that a total of N27.551billion was lost to pipeline vandalism within the year. It stated that a total of 1,894 breaks were recorded with a loss of 204,397.07 cubic metres of crude product… Read Full Story

You might also like

This website uses cookies to improve your experience. We'll assume you're ok with this, but you can opt-out if you wish. AcceptRead More