Nigerian stocks rise for 28th straight day on increased demand for heavyweight shares

McNichols led gainers, appreciating by 10 per cent to close at N0.77. Guinness grew by 10 per cent to end trade at N110. Nigerian Breweries went up by 9.95 per cent to N69.05.

Fidson rose to N9.85, notching up 9.93 per cent in the process. Conoil climbed up by 9.92 per cent to N28.80.Transcorp Hotel topped the losers’ chart declining by 9.09 per cent to close at N4.50. Multiverse shed 8.70 per cent to end trade at N0.21. Mutual Benefits fell to N0.24, losing 7.69 per cent in the process. FTN Cocoa dipped to N0.36, recording 7.69 per cent depreciation. Oando closed at N5.25, going down by 7.41 per cent.Altogether, 462.6 million shares estimated at N8.3 billion were traded in 6,801 deals.

FCMB was the most active stock, trading 138.5 million shares worth N485.2 million traded in 78 deals. Zenith Bank’s shares of 29.4 million units priced at N705 million exchanged hands in 574 transactions. Transcorp had 26.4 million shares valued at N30.6 million traded in 161 deals. UBA traded 20.7 million shares estimated at N166.4 million in 273 transactions. GTCO traded 20.3 million

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Phone companies in Nigeria propose 40% tariff increaseThe letter said the fee for calls will increase from N6.4 to N8.95 while the price cap for SMS will increase from N4 to N5.61. This will kill the economy It’s only in Nigeria that government would allow a coy to increase tariff after declaring profits in an economy where the citizens are wailing under severe hardship . It’s INSANE!!! Is it only creating of more hardship and poverty is what the country Nigeria is known for? What can this country ever boast of to have done for the enjoyment of the citizens? PVC? A negative price tag attached too. What is that?
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