GlaxoSmithKline topped the gainers’ chart with N3.10 kobo to close at N34.00 per share while Unilever followed with N2.55 kobo to close at N55.00 per share.
Stanbic IBTC appreciated by N1.70 kobo to close at N48.00 per share. Nestle garnered N1340.30 per share. PZ Cussons also gained N1.00 kobo to close at N23.00 per share.
Investors exchanged 535 million shares worth N3.6 billion in 4,717 deals up from 352 million units valued at N4 billion that changed hands in 4,8807 deals on Tuesday.
Analysts at Investdata Consulting Limited believed that repositioning would continue, while profit taking will reduce on the strength of expected payouts and earnings surprises.
“With more income investors taking position in value and dividend paying stocks, alongside bargain hunters, we expect next week’s MPC meeting to give direction of the interest rate as inflation continues to decline thereby further driving the economic recovery and inflow of funds.
“Also, we expect repositioning to continue, while profit taking will reduce on the strength of expected payouts and earnings surprises.
“However, we would like to reiterate that investors should not panic but go for equities with intrinsic value, especially during this season when dividend payment is ongoing.”