Nigerian stocks climb further on rush for consumer goods shares

Nigerian equities expanded by 0.71 per cent on Wednesday, extending the gain recorded at the previous session in an advance dominated by blue-chip consumer goods shares.Market breadth was negative as 20 gainers emerged against 16 laggards.

The all-share index rose by 266.53 basis points to 37,907.28, while market capitalisation climbed to N19.760 trillion.Nestle led gainers, growing by 10 per cent to close at N1,540. Ikeja Hotel gained 9.92 per cent to close at N1.33. Oando rose by 9.67 per cent to N3.29. Wapic leapt to N1.50, notching up 9.49 per cent in the process. May & Baker completed the top 5, climbing up by 9.09 per cent to N0.84.BOC Gases topped the losers’ table, declining by 10 per cent to close at N8.55. Sovereign Trust Insurance shrank by 7.14 per cent to end the day at N0.26. PZ fell to N5.25, losing 7.08 per cent.

Regal Insurance dipped to N0.46, recording 6.12 per cent loss. Chams closed at N0.20, going down by 4.76 per cent.

Source: News Formal (newsformal.com)

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