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Nigerian stocks rise further on consumer goods shares gain

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Zenith Bank, Honeywell and UPDC contributed most to the uptrend at individual stock level.

Nigerian stocks ticked up by 0.02 per cent on Friday, extending the gain reported at the preceding trading session, with the consumer goods sector aiding the climb., Honeywell and UPDC contributed most to the uptrend at individual stock level. Zenith issued its mid-year financials on Friday, the first of the Big 5 banks to do so, with profit inching up to N106 billion and the board announcing an interim dividend of N0.30.

The market breadth, an indicator of investor’s sentiment, closed on a positive note as 18 gainers were recorded compared to 10 laggards.The all-share index edged up 8.47 points to 39,485.65, while market capitalisation rose to N20.6 trillion.Morison led gainers, growing by 9.47 per cent to close at N1.85. FTN Cocoa gained 9.09 per cent to close at N0.48. Sovereign Trust rose by 8.70 per cent to N0.25. UPDC leapt to N1.83, notching up 8.28 per cent in the process.

 

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