FTN Cocoa and McNichols lead N26.5bn gain for Nigerian investors

Nigerian Exchange trading ended higher on Tuesday, with FTN Cocoa Processors and McNichols Consolidated leading gains and helping investors add N26.5 billion.

Both stocks recorded the maximum daily price increase of 10%. FTN Cocoa rose to N8.25 per share from N7.50, while McNichols closed at N4.95, up from N4.50.

Sunu Assurances Nigeria gained 9.94% to N3.43, Sovereign Trust Insurance rose 9.57% to N2.06, and Caverton Offshore Support Group advanced 9.52% to N4.60. May & Baker Nigeria posted the largest absolute increase among the leading gainers, adding N3.50 to close at N40.50. Aradel Holdings rose N124.90 to N1,539.90, while Nestlé Nigeria gained N165 to settle at N2,995.

The session also produced 19 decliners. Tripple Gee and Company fell 9.72% to N2.60, ABC Transport dropped 9.52% to N4.75, Nigerian Aviation Handling Company declined 9.22% to N136.35, and R.T. Briscoe Nigeria lost 9.21% to close at N10.35.

Investors traded 651,240,201 shares in 43,674 deals on the main equity market. In exchange-traded funds, Meristem Value ETF rose 7.84% to N150. The FGS202768 bond was among the notable debt-market movers, climbing 14.12% to N97.