Nigerian stocks dipped by 0.11 per cent or N26.9 billion on Friday as the impact of investors hunting recently accrued yield on some stocks notably oil palm processor Presco and Seplat weighed on the broad index. Even so, that was not sufficient to hamper the index from seeing another week of positive returns.
Airtel Africa issued its nine-month-to-December financials where profit spiked by almost two fold to $515 million, assisted by reasonable growth in data and mobile money incomes. Market breadth, used by investors and market watchers, to determine investors’ sentiment towards trade, was negative given that 24 advancers were reported compared to 18 decliners.SCOA led the gainers, appreciating by 9.65 per cent to close at N1.25. Living Trust went up by 8.77 per cent to N1.24. Jaiz Bank rose to N0.71, notching up 5.97 per cent in the process. Guinea Insurance added 4.76 per cent to end trade at N0.22. Champion Breweries completed the top 5, climbing by 4.76 per cent to N2.
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