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Nigerian stocks rise for 11th trading day

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

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. Rising by 25.21 points, the all-share index closed at 48,568.6, while market capitalisation jumped to N26.2 trillion.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.Multiverse topped losers, declining by 8.70 per cent to close at N0.21.

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