FTN Cocoa, McNichols Boost Nigerian Exchange Gains

On Tuesday, trading activities on the Nigerian Exchange Limited ended positively, driven by strong investor demand for agricultural and consumer goods stocks. The benchmark market capitalization increased, with FTN Cocoa Processors Plc and McNichols Consolidated Plc leading the gains, both recording maximum daily price surges of 10%.

FTN Cocoa closed at N8.25 per share, up from N7.50, while McNichols closed at N4.95, rising from N4.50. Other notable gainers included Sunu Assurances Nigeria Plc, which rose 9.94% to N3.43, and Sovereign Trust Insurance Plc, which appreciated 9.57% to N2.06.

In total, 651,240,201 shares were traded across 43,674 deals. Conversely, 19 equities experienced price declines, with Tripple Gee and Company Plc leading the losers, dropping 9.72% to N2.60.

ABC Transport Plc and Nigerian Aviation Handling Company Plc also saw significant losses. In the Exchange Traded Funds sector, Meristem Value Exchange Traded Fund surged 7.84% to close at N150.