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Forte Oil, Cadbury, Others Lift Nigerian Stock Exchange’s Indices By N24 Billion

Following heavy price gains recorded by major highly capitalised stocks, especially Forte oil and Cadbury, equity transactions on the Nigerian Stock Exchange (NSE) closed high on Friday, as market capitalisation appreciated by N24 billion.

Specifically, at the close of trading on Friday, the market capitalization, which opened at N12.82 trillion, rose by N24 billion or 0.1 per cent to close at N12.85 trillion.

Also, the All-Share Index inched up 68.74 points or 0.19 per cent to close at 37,120.28, compared to 37,051.54 recorded on Thursday.An analysis of trading showed that Forte Oil emerged the day’s highest price gainer, adding N2.10 to close at N44.10 per share, followed by Cadbury, with N1.14 to close at N12.34 per share. International Breweries also gained N1.01 to close at N50 per share.

Nigerian Breweries garnered 90 kobo to close at N143.90 per share. Guaranty Trust Bank appreciated by 0.50 kobo to close at N43 per share. Nigerian Aviation Handling Company added 0.16 kobo to close at N3.57 per share, while Custodian and Allied Insurance appreciated by 0.10 kobo to close at N3.90 per share.

NPF Micro finance Bank garnered 0.06 kobo to close at N1.30 per share, as Caverton also added 0.06 kobo to close at N1.68 per share.However, Cement Company of Northern Nigeria topped the losers’ chart, shedding 43 kobo to close at N9.27 per share, followed by Fidson Healthcare, with 18 kobo loss to close at N3.76 per share, while Access Bank was down by 12 kobo to close at N9.91 per share.

Champion Breweries dipped 11 kobo to close at N2.09 per share and Zenith international Bank shed 10 kobo to close at N25 per share.Others are National Salt Company of Nigeria, which dropped 0.09 kobo to close at N15.26 per share; May&Baker, 0.08 kobo to close at N2.86 per share; Dangote Flour, 0.06 kobo to close at N9.45 per share; and C&I Leasing, 0.06 kobo to close at N1.67 per share.

A total of 175.28 million shares valued at N2.65 billion were exchanged by investors in 3,235 deals, against a turnover of 175.75 million shares worth N3.52 billion transacted in 3,357 deals on Thursday.

The banking equities maintained its leadership as the most active, with Zenith Bank trading 32.95 million shares worth N824.22 million, followed by FBN Holdings, with 23.99 million shares valued at N172.73 million.Fidelity Bank sold 16.66 million shares worth N27.64 million, while FCMB Group traded 15.76 million shares worth N18.11 million and Diamond Bank exchanged 14.40 million shares valued at N16.68 million.