Nigerian Breweries, Guinness, MTN, Presco Gain As Stocks Surge By 1.90%

Shares of Nigerian Breweries, MTN Nigeria, Guinness, NASCON and Presco were among the biggest gainers on Wednesday, as the Nigerian equities sustained its growth for the third consecutive day.

The appreciation in stocks was impacted by the 1.90% rise in the All Shares index (ASI), which closed at 33,268.36, compared to Tuesday’s figure of 32,647.10.

Also, the equity capitalization appreciated to N17,383 trillion from its N17,059 trillion it recorded on Tuesday, representing a N324 billion or 1.90% surge in stocks.

The total volume of equities traded on Wednesday stood at 858,156,620.00 valued at N9.062 billion in 8,142 deals as against 578,779,229.00 volume of shares at N7.743 billion in 7,651 deals traded on Tuesday.

The increase in ASI and Market Capitalisation was impacted by the growth in stocks of major brands on the Nigerian Stock market.

The gainers’ chart in percentage parameters was led by Guinness by 10.00% to close at N20.9 per share.

NASCON closely followed by by 9.71% to close at N16.95 per share, while Nigerian Breweries gained by 9.52% to close at N57.5 per share.

Also, PRESCO increased by 5.84% to close at N72.5 per share, while MTN Nigerian completed the top 5 gainers’ table with 2.43% to close at N160 per share.

In contrast, the losers’ chart was led by Learn Africa, shedding 4.76% to close at N1 per share.

CI Leasing slipped by 4.65% to close at N4.1 per share, while Stanbic IBTC dipped by 4.17% to close at N46 per share.

The top 5 losers table continued as Link Assurance depreciated by 4.08% to close at N0. 47 per share, while REDS Starez lost 3.68% to close at N3.4 per share.

The market activity was dominated by FBN Holdings, with 145,051,093 shares worth N1,077,756,271.