• Wednesday, February 28, 2024
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Cadbury, Unilever, others cause market’s N1.57trn gain

Cadbury,  Unilever, others cause market’s N1.57trn gain

Nigeria’s equities market rose by 3.56 percent on Tuesday, its second time this week as investors appetite for stocks increases.

Investors booked about N1.57trillion gain at the close of trading on Tuesday following buy interest in consumer goods stocks like Cadbury and Unilever.

Unilever increased from preceding day’s low of N16.50 to N18.15, adding N1.65 or 10 percent.

Cadbury went up from a low of N16.50 to N18.15, gaining N1.65 or 10 percent. FTN Cocoa also rose from N2 to N2.20, adding 20kobo or 10 percent.

The Nigerian Exchange Limited (NGX) All-Share Index rose from Monday’s low of 80,324.53 points and N43.957trillion respectively to 83,191.84 points and N45.523trillion.

Fidelity Bank, FCMB Group, UBA, Transcorp and Access Corporation were actively traded stocks on Tuesday.

In 17,144 deals, investors exchanged 1,409,851,793 shares worth N24.681billion.

The stock market has risen this year by 11.26 percent as more investors continued to position strategically ahead of full year results and corporate actions like dividends.