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Business News of Saturday, 30 April 2022


Nigerian stocks gain N431.9 billion, lifted by strong corporate results

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Nigerian stocks advanced by 1.64 per cent or N431.9 billion on Friday, the fastest rate seen in weeks as investors splurged big cash on equities after many companies reported stronger-than-expected first-quarter earnings.

Airtel Africa, FCMB Group and Nestle led the charge, while the NGX Insurance Index accelerated the most of the five sector indexes tracked by the bourse at 1.85 per cent.

NGX 30, the index that tails the 30 biggest stocks on the exchange, climbed 0.82 per cent to its summit since March 12, 2018.

Market breadth closed positive with 35 gainers emerging compared to 13 laggards.

The all-share index was up by 801.18 basis points at 49,638.9. Similarly, market capitalisation advanced to N26.8 trillion

The index has been up by 16.2 per cent since the year started.


NEM grew by 10 per cent to N4.40. Academy Press gained 9.7 per cent to close at N1.47. Cadbury rose by 9.63 per cent to N10.25.

ALSO READ: Nigerian stocks rise for 11th trading dayChampion Breweries leapt to N2.52, notching up 9.6 per cent in the process. Julius Berger completed the top 5, climbing up by 9.35 per cent to N30.4.


NPF MFB declined 10 per cent to N1.98. Trans-Nationwide Express fell to N0.81, losing 9 per cent.

Eterna dipped to N6.02, recording 7.4 per cent loss. Cornerstone Insurance closed at N0.59, going down by 4.8 per cent. Honeywell shrank by 4.4 per cent to end the day at N16.20.


A total of 319.4 million shares worth N4.7 billion were traded in 6,371 deals.

Transcorp was the most preferred stock today with 36.1 million units of its shares worth N42.2 million traded in 203 deals. AIICO had 27.1 million units of its shares priced at N20.9 million exchanged hands in 146 transactions.

FCMB had 22.1 million shares valued at N84.6 million traded in 112 deals. FBN Holdings traded 16.5 million shares estimated at N197 million in 150 transactions. Access Holdings traded 15.5 million shares valued at N150.5 million in 318 deals.