Nigerian stocks rebound on gains by GTCO, Nigerian Breweries

1 month ago 37

Nigerian stocks returned to gain on Wednesday as the benchmark index jumped rose per cent even though that was too paltry in obliterating the loss of the session before.

GTCO, Nigeria’s biggest lender by market value, steered the climb alongside beer-maker Nigerian Breweries, with support from FBN Holdings and Dangote Sugar.

A positive market breadth was reported, showing 19 gainers against 13 laggards at the end of trade.

The all-share index increased 39.84 points to 42,357.36 points, while market capitalisation closed higher at N22.10 trillion.

The index has seen a 5.18 per cent gain January to date.


Red Star Express traded up by 7.94 per cent to close at N3.40. Meyer went up 7.69 per cent to N0.42. Japaul rose to N0.39, notching up 5.41 per cent in the process.

UPDC added 4.35 per cent to end today’s trade at N1.20. Africa Prudential completed the top 5, climbing by 4.10 per cent to N6.35.


ETranzact was the worst performing stock, declining by 9.57 per cent to close at N1.89. Royal Exchange shed 4.76 per cent to close at N0.60.

Cutix fell to N2.50, losing 4.21 per cent. International Breweries slumped to N4.70, recording 4.08 per cent depreciation. Unity Bank closed at N0.46, going down by 2.13 per cent.


In all, 226.2 million shares estimated at N2.6 billion were traded in 3,476 deals.

International Breweries traded the most shares with 51.8 million units of its common stock worth N253.3 million traded in 43 transactions. FBN Holdings transacted 32.5 million shares priced at N392.2 million exchanged hands in 210 transactions.

GTCO had 18 million shares valued at N457.2 million traded in 240 deals. Unilever traded 10 million shares estimated at N132.1 million in 47 transactions. Mutual Benefits traded 9.5 million shares valued at N2.3 million in 22 deals.

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