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

Tuesday saw a 3.56 percent surge in Nigeria’s equity market, the second such rise this week as investor demand for equities rises.

At the close of trading on Tuesday, investors booked a gain of around N1.57 trillion due to buying activity in consumer goods equities such as Cadbury and Unilever.

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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.

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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.

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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.