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Nigeria: Nigerian Stocks Rise Further On Blue-Chip Gains

Investment bank United Capital, MTN Nigeria and beer-maker Nigerian Breweries steered gains.

Nigerian stocks extended gains on Thursday with a jump of 0.17 per cent in the benchmark index as blue-chip equities led an advance that stretched gains into their second day.

Investment bank United Capital, MTN Nigeria and beer-maker Nigerian Breweries steered gains in a session that saw stocks appreciate at a slower pace than Wednesday’s.

The consumer goods index progressed faster than the rest four sectorial indexes tracked by the bourse, with a 0.23 per cent increase to 560.76 basis points.

Market breadth was positive, with 19 gainers emerged against 16 laggards.

The all-share index edged up 65.72 basis points to 38,548.24. In the same vein, market capitalisation lifted to N20.092 trillion

Year to date, the index is up by 0.56 per cent.


UPL led gainers, growing by 10 per cent to close at N1.54. Berger Paints gained 9.84 per cent to close at N6.70. John Holt rose by 9.43 per cent to N0.58. ABC Transport leapt to N0.37, notching up 8.82 per cent in the process. Africa Prudential completed the top 5, climbing up by 6.90 per cent to N6,20.


CWG declined 9.63 per cent to N1.69. CAP shrank by 9.52 per cent to end the day at N19.95. Union Bank fell to N5.55, losing 6.72 per cent. Sovereign Insurance dipped to N0.28, recording 6.67 per cent loss. Courteville closed at N0.20, going down by 4.76


A total of 249.686 million shares worth N1.876 billion were traded in 3,524 deals.

Sovereign Insurance was the most preferred stock today with 35.505 million units of its shares worth N9.725 billion traded in 52 deals. Zenith Bank had 27.506 million units of FBN Holdings shares priced at N632.282 million exchanged hands in 272 transactions.

FCMB had 22.685 million shares valued at N72.231 million traded in 72 deals. Mansard traded 15.180 million shares estimated at N16.868 million in 38 transactions. Fidelity traded 14.540 million shares valued at N32.330 million in 122 deals.