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Equities market rebound 0.22% as Nestle Board meet to Consider Interim Dividend

….As insurance led gainers
Equities Trading activities on the Nigerian Stock Exchange rebounded on Thursday, as investors embarked on bargain hunting in insurance and consumer goods stocks to lift the Nigerian Stock Exchange All-Share Index (ASI) by 0.22 percent.

The NSE Insurance Index led the day’s sectoral gainers with an increase of 2.6 per cent and the consumer goods index added 0.61 per cent, on the other hand, the NSE Banking Index emerged the day’s lone loser with a decline of 0.32 per cent.

The All -Share Index thus added 79.42 points to close at 36,732.24 points and the Market Capitalisation added 27.34 billion to close the day at N12.643 trillion.

The price movement chart showed a positive market breadth as 30 gainers were paired against 13 losers.

AXAMansard led the gainer’s chart with an appreciation of 6.49 per cent to close at N2.46 per share.

Diamond Bank and Linkage Assurance came next with a growth of 5 per cent each to close at N1.05 and 84 kobo per share, Livestock Feeds added 4.76 percent to close the day at 88 kobo and Transcorp appreciated 4.32 per cent to close at N1.45 per share.

On the other hand UPL recorded the day’s highest depreciation of 4.90 per cent to close at N2.33 and Fidson Health Care declined 4.57 per cent to close at N3.34 per share.

Neimeth dropped4.23 per cent to close at 68 kobo per share, Union Bank fell 4.17 per cent to close at N5.75 per share and Jaiz Bank dropped 1.47 per cent to close at 67 kobo per share.

In all, investors in 2,993 deals exchanged a total of 443.7 million shares valued at N3.2bn as against a total of 336.4 million shares worth N1.834bn traded in 3,689 deals previously.

Again, Diamond Bank, that emerged the most active stock to boost turnover, as it exchanged 308.8 million shares for N304.4 million.

UBA was next with the sale of 25.8 million shares valued at N237.1m and Zenith Bank sold 22.9 million units at N579.3m.

Transcorp came fourth with 14.1 million units exchanged for N20.4m, while 9.6 million units of Fidelity Bank’s shares were exchanged for N9.6m`

Meanwhile, the Board of Directors of Nestle Nigeria has scheduled a meeting for 27 October, 2017, to consider the unaudited financial statements for the period ended 30 September, 2017.

The company, in a regulatory filing with the NSE noted that the Board will also consider the payment of interim dividend as one of the items to be discussed at the meeting

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