Breweries on gaining streak

Transactions at the Nigerian Stock Exchange (NSE) Wednesday ended with Nigerian Breweries adding to its share price for the second day running.

This gaining trend comes as investors prepare for the planned merger of the brewery with Consolidated Breweries Plc.

Market Capitalisation, which opened at N12.831 trillion, closed at N12, 891 trillion – adding N60 billion.

The All-Share Index added 183.95 basis points that is 0.47 percent to close at 39,138.98 against 38,955.02 achieved on Tuesday.

Nigerian Breweries topped the gainers’ chart adding N3.54 to close at N158.60 per share.

Forte Oil came second with N1.01 to close at N150.00, while Uac-Prop gained N0.78 to close at N18.46 per share.

Meanwhile, Total topped the losers’ chart losing N6.00 to close at N154.00 per share.

It was followed by Mobil which lost N5.54 to close at N125, 55, while Updcreit lost N0.55 to close at N10.47 per share.

In all, investors traded 414,779,733 shares worth N4, 463,567,335.51 transacted in 4,945 deals against the 272,383,054 shares valued at N3, 123,339,013.37 billion traded in 5,211 deals on Tuesday.

Mti was the most traded equity trading 101,000,000 shares worth N50, 500,000.00.

Also, The Central Bank of Nigeria (CBN), on Wednesday says it plans to raise N121.32 billion ($747 million) via short-dated treasury bills at an auction next week.

The bank said it will sell N20.64 billion of 91-day paper, N25 billion of 182-day treasury bills and 75.68 billion one-year paper, using the Dutch Auction System.