Market inches up again, Presco topples Okomu Oil


After two days of decline, the Nigerian Stock Exchange rebounded slightly today, with market capitalization closing at N7.183 trillion and the All Share Index also looking upwards, ending at 22,524. Yesterday market capitalization was N7.15 trillion and on Monday it was N7.192 trillion, in contrast with the market position last Friday, when all looked so rosy with the cap at N7.214 trillion.

Seventeen stocks, led by Dangote Cement appreciated, with 24 other stocks losing weight. Okomu Oil, the palm oil producing company lost the biggest value, shedding N1.71 to close the day at N32.49 as against Tuesday’s price of N34.20.

For the third day, Presco Plc, in the same sector with Okomu Oil, continues to ride higher and higher, with the price adding an additional value of 75 kobo, making it the most valued company in the agriculture sector. At N15.79 per unit, its one billion issued shares are now valued at N15.79 billion, higher than Okomu Oil at N15.496 billion .

Cadbury, the beverage company also appreciated by 78 kobo and ended the day at N16.48.

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Livestock Feeds, Forte Oil, GTB, Berger, Dangflour, Access and First bank were other appreciable gainers, while FCMB, WAPCO, Dangsugar, Skyebank and UBA also lost some value.

In all, investors spent N2.422 billion in 4,324 deals.

For more details on the losers and gainers, please click the link here:GAINERS AND LOSERS FOR 16TH MAY, 2012