Nigerian stocks rise for 11th trading day

Nigerian stocks advanced for the 11th trading day on Tuesday, rising 0.05 per cent as equities from diverse industries including energy, food and beverages as well as conglomerates.

Seplat, Nigerian Breweries and Transcorp drove the climb as the size of trade enlarged by 42 per cent compared to that of the previous session and turnover by 74 per cent.

A positive market breadth was recorded as 28 gainers emerged against 23 laggards. The rest 64 participating stocks saw no price movement.

Rising by 25.21 points, the all-share index closed at 48,568.6, while market capitalisation jumped to N26.2 trillion.

Year to date, the index is up by 13.7 per cent.

TOP FIVE GAINERS

Academy led gainers, growing by 10 per cent to close at N1.21. Champion Breweries gained 9.78 per cent to close at N2.47. Meyer rose by 9.77 per cent to N2.81. Neimeth leapt to N1.49, notching up 9.56 per cent in the process. FBN Holdings completed the top 5, climbing up by 9.43 per cent to N2.90.

TOP FIVE LOSERS

Multiverse topped losers, declining by 8.70 per cent to close at N0.21. International Breweries shrank by 8.04 per cent to end the day at N5.15. Cadbury dropped to N7.75, losing 7.74 per cent. Japaul Gold dipped to N0.30, recording a 6.25 per cent loss. Honeywell Flour closed at N3.70, going down by 4.88 per cent.

TOP 5 TRADES

In all, 464.7 million shares worth N7 billion were traded in 6,468 deals.

Transcorp was the most preferred stock, trading 123.8 million shares worth N144.6 million in 466 deals. AIICO traded 20.5 million units estimated at N14 million in 75 transactions. Zenith had 19.4 million shares valued at N493.4 million traded in 343 deals. FBN Holdings traded 18.5 million shares estimated at N220.8 million in 167 transactions. Fidelity traded 18.1 million shares valued at N69.1 million in 134 deals.

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