Nestle records highest gain as NSE market capitalisation rises by N130bn

The Nigerian Stock Exchange (NSE) market capitalisation, on Tuesday, improved by N130 billion following gains posted by some highly capitalised equities.
The market capitalisation rose by N130 billion or 1.03 per cent to close at N12.739 trillion compared with N12.609 trillion recorded on Monday.
Similarly, the All-Share Index which opened at 36,584.44 inched 378.04 points or 1.03 per cent to close at 36,962.48 as a result of price growth.
A breakdown of the price movement chart showed that Nestle recorded the highest gain to lead the gainers’ table growing by N20.19 to close at N1, 220.20 per share.
Total followed with a gain of N11.40 to close at N239.51 and Dangote Cement garnered N9.29 to close at N224.90 per share.
Forte Oil appreciated by 50k to close at N50.50, while NASCON increased by 48k to close at N13.50 per share.
On the other hand, Mobil Oil recorded the highest loss declining by N11.25 to close at N213.81 per share.
Conoil trailed with a drop of N3.30 to close at N30.59 and Flour Mills depreciated by N1.15 to close at N29.85 per share.
Zenith International Bank lost 95k to close at N23.05, while UACN was down by 85k to close at N15.07 per share.
LiveStock Feeds was the toast of investors in volume terms, accounting for 101.19 million shares valued at N101.12 million.
Guaranty Trust Bank came second with an exchange of 16.48 million shares worth N670.47 million, while United Bank for Africa sold 15.06 million shares valued at N141.31 million.
Sterling Bank accounted for 13.45 million shares worth N13.54 million and investors staked N110.84 million on 8.54 million of Dangote Sugar.
However, the volume of shares traded closed lower as investors bought and sold 244.32 million shares valued at N3.67 billion achieved in 3,829 deals.
This was in contrast with a turnover of 368.38 million shares worth N6.27 billion exchanged in 3,729 deals on Monday.