May & Baker, Cadbury, Forte Oil stocks in record weekly gain at Nigerian bourse
Out of over N650billion value increase achieved by listed Nigerian equities last week, larger chunk of the gains accrued to investors in the shares of May & Baker Nigeria Plc, Cadbury Nigeria Plc, and Forte Oil Plc, among other fifty-six (56) equities.
Summary of price changes in the period under review shows that 59 equities appreciated in price, lower than 61 equities in the preceding week; while 21 equities depreciated in price, higher than 12 equities in the preceding week. Meanwhile, 93 equities remained unchanged, lower than 100 equities recorded in the preceding week.
The share price of May & Baker Nigeria Plc appreciated from week open level of N1.79 to N2.84, adding N1.05 or 58.66 percent; Cadbury Nigeria Plc rose from N10.89 to N15.67, after increasing by N4.78 or 43.89 percent; while Forte Oil Plc stock advanced from week open level of N46 to N64.30, an increase of N18.30 or 39.78percent.
In the trading week to Friday June 9, the NSE All-Share Index (NSE) appreciated by 6.07percent to close at 33,276.68 points from 31,371.63 points; while the market capitalisation increased to N11.504 trillion from N10.845trillion at week open, adding about N659billion in just one week.
All other Indices finished higher during the review trading week with the exception the NSE ASeM Index that depreciated by 1.74percent while the NSE Insurance Index closed flat.
Other stocks that outperformed the market last week are Sterling Bank Plc, Seplat, International Breweries Plc, Honeywell Flour Mills Plc, Dangote Sugar Refinery Plc, Champion Breweries Plc, and Diamond Bank Plc.
Sterling Bank Plc gained 27kobo or 34.18 percent from 79kobo to N1.06; Seplat Petroleum Development Company Plc advanced by N118.56 or 33.87percent, from N350 to N468.56; International Breweries Plc rose from N24.19 to N32.23, adding N8.04 or 33.24percent; Honeywell advanced by 48kobo or 32 percent, from N1.50 to N1.98.
Also, Dangote Sugar share price recorded a weekly gain of N2.31 or 31.01percent, from N7.45 to N9.76; Champion Breweries Plc advanced from N2.59 to N3.39, after adding 80kobo or 30.89percent; while Diamond Bank Plc gained 33kobo or 29.73 percent, from N1.11 to N1.44.
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