Activities on the Nigerian Stock Exchange (NSE) on Tuesday sustained bullish trend for the second consecutive day, with major equities recording price growth led by Nestle.
Nestle recorded the highest price growth with a gain of N22 to close at N1,252 per share just as predicted by market watchers. It was followed by Seplat with N15 to close at N492 and Dangote Cement rose by N5 to close by N224 per share.
Flour Mills rose by N1.50 to close at N31.50 per share. Some financial experts on Oct. 30 predicted that the 2018 budget proposal presentation and improved third quarter earnings would impact positively on the market this week.
Consequently, the All-Share Index appreciated further by 195.99 points or 0.54 per cent to close at 36,680.29 against 36,484.30 on Monday. In the same vein, market capitalisation inched N67 billion or 0.53 per cent to close at N12.694 trillion compared with N12.627 trillion on Monday.
Total posted the highest price loss to lead the losers’ table with a loss of N4 to close at N236 per share. Beta Glass trailed with a loss of N2.84 to close at N54.01, while Unilever dropped by N1.59 to close at N41.19 per share.
Nigerian Breweries lost N1.50 to close at N150 and Forte Oil declined by 99k to close at N40 per share. Also, the volume of shares transacted inched by 48.08 per cent with an exchange of 259.08 million shares valued at N3.05 billion traded in 4,503 deals.
This was against a turnover of 174.96 million shares worth N1.82 billion achieved in 3,401 deals on Monday. Diamond Bank was the toast of investors during the day, exchanging 42.94 million shares worth N42.64 million.
Fidelity Bank came second with an account of 31.07 million shares valued at N47.62 million, while FBN Holdings traded 21.47 million shares worth N132.12 million.
Dangote Flour sold 19.72 million shares valued at N183.97 million and Transcorp traded 19.34 million shares worth N27.15 million.