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Nigerian stocks rise higher amid rush for consumer goods shares

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Consumer goods shares were the toast of investors as heavyweights like Nigerian Breweries, International Breweries and Presco...

advanced for the thirty-first day on Monday as the benchmark index jumped by 1.9 per cent, strengthening the positive sentiment that has seen a great deal of investors’ cash chase equities for a number of weeks.

“We anticipate a calm atmosphere in the domestic equities space, as investors are likely to revert to standoffish positions in the space following a relatively strong earnings season,” said analysts at investment bank United Capital. Market breadth, a pointer to investors’ sentiment to trade, closed in the positive as 37 gainers emerged compared to 22 laggards.

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