Nigerian stocks completed a week-long gaining streak on Friday, aided by a swelling interest in consumer goods shares as the benchmark index lifted by 0.43 per cent.

At the forefront of the advance were blue-chip equities like Zenith, UACN, Dangote Sugar, and Stanbic IBTC.

Slightly helping gains, a batch of upbeat first-quarter earnings updates hit the market on Friday, with Nigeria’s biggest beer-maker Nigerian Breweries announcing a profit surge of 38.5 per cent or N2.133 billion. This helped its share price up by 2.2 per cent just as NASCON and Living Trust Mortgage Bank also saw rises in bottom line.

But a plunge of as much as N9.345 billion or 45.4 per cent in the January-to-March profit of lender Stanbic IBTC failed to upset investors, as its share price bucked the downbeat performance to go 8.70 per cent higher, the third largest gain of the day as a matter of fact.

Market breadth was positive as 31 gainers emerged compared to 11 losers, while 65 other participating stocks in Friday’s trade did not budge.

The all-share index lifted 170.02 points to 39,301.82, its peak since 30th April. Similarly, market capitalisation appreciated by N89 billion to N20.568 trillion.

Year to date, the index is down by 2.41 per cent.


Tripple G led gainers, appreciating by 9.23 per cent to close at N0.71. Sovereign Trust added up 8.70 per cent to end today’s trade at N0.75. Stanbic IBTC went up by 8.70 per cent to N50.

Academy rose to N0.40, notching up 8.11 per cent in the process. Regal completed the top 5, climbing by 8 per cent to N0.27.


Union Dicon was the worst performing stock, declining by 9.90 per cent to close at N9.59. Linkage Assurance shed 4.76 per cent to close at N0.80.

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Cornerstone fell to N0.52, losing 3.70 per cent. NASCON dipped to N14.80, recording 2.60 per cent depreciation. FTN closed at N0.39, going down by 2.50 per cent.


In all, 287.039 million shares estimated at N3.039 billion were traded today in 3,578 deals.

Access was the most active stock with 46.788 million units of its stocks worth N351.759 million traded in 346 deals. GTB shares of 42.666 million units, priced at N1.333 billion, exchanged hands in 336 transactions.

Linkage Assurance traded 29.284 million shares estimated at N23.724 million in 53 transactions. FBN Holdings traded 22.835 million shares valued at N169.948 million in 164 deals. UBA had 21.290 million shares valued at N158.884 million traded in 235 deals.


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