Image result for Nigerian Breweries (NB) PlcBy Chinyere Joel-Nwokeoma

Lagos (NAN) Nigerian Breweries (NB) Plc on Tuesday, for the second consecutive day on the Nigerian Stock Exchange  (NSE), topped the gainers’ chart on the heels of  a final dividend of N2.58 proposed for the financial year ended Dec. 31, 2016.

The News Agency of Nigeria (NAN) reports that the company led the gainers’ table with N5.19 to close at N125 per share.

Market analysts attributed the price growth to a proposed cash dividend of N2.56 proposed for year ended Dec. 31, 2016, in addition to an interim dividend of N1 paid in October 2016.

They said that NB performance was against the popular expectations of negative performance from the manufacturing industries, in spite of the drop in the company’s profit.

It was trailed by Guinness with a gain of 93k to close at N62.03 and  Access Bank also appreciated by 17k to close at N6.88 per share.

Custodian Allied Insurance gained by 16k to close at N3.40 and Capital Hotel added 10k to close at N3.70 per share.

Consequently,  the  market capitalisation recorded a marginal growth of  one billion naira or 0.01 per cent to close at N8.739 trillion against N8.738 trillion recorded on Monday.

Also, the All-Share Index, which opened at 25,249.49, rose by 2.14 points or 0.01 per cent to close at 25,251.63.

On the other hand,  Seplat Petroleum Development recorded the highest loss for the day, shedding N9.99 p to close at N370.01 per share.

Forte Oil trailed with a loss  of N3.04 to close at N53.20 and Lafarge Africa depreciated by N2.10 to close at N39.90 per share.

Unilever shed N1.70  to close at N32.30 and PZ industries downed by 70k to close at N23.88 per share.

Presco was the toast of investors in volume terms , trading 34.45 million shares worth N1.62 billion.

United  Capital traded 18.99 million shares valued at N70.67 million and Transcorp sold 13.12 million shares worth N10.25 million.

Zenith international Bank accounted for 8.86 million shares worth N132.33 million.

Over all,  131.61 million shares valued at N2.75 billion were exchanged by investors in 2,764 deals, compared with 110.02 million shares worth N985.67  million traded in 2,160 deals on Monday.


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