NGX Closes Higher as FTN Cocoa, McNichols Lead N26.5bn Investor Gain

Trading on the Nigerian Exchange Limited ended on a positive note on Tuesday, supported by renewed buying interest in agricultural and consumer goods stocks.

The market’s benchmark indicators strengthened as several equities recorded gains, with FTN Cocoa Processors Plc and McNichols Consolidated Plc leading the gainers after both stocks rose by the maximum daily limit of 10 per cent.

FTN Cocoa gained 10 per cent to close at N8.25 per share, up from N7.50, while McNichols also advanced 10 per cent, moving from N4.50 to N4.95 per share.

Other notable gainers included Sunu Assurances Nigeria Plc, which rose 9.94 per cent to N3.43; Sovereign Trust Insurance Plc, which gained 9.57 per cent to N2.06; and Caverton Offshore Support Group Plc, which appreciated 9.52 per cent to N4.60 per share.

Aradel, Nestlé post biggest value gains

In terms of absolute price movement, May & Baker Nigeria Plc recorded a N3.50 increase to close at N40.50 per share.

Aradel Holdings Plc gained N124.90 to settle at N1,539.90 per share, while Nestlé Nigeria Plc added N165 to close at N2,995 per share.

The gains in some of the market’s higher-priced stocks provided additional support for the overall market performance.

19 stocks decline

Despite the positive session, 19 equities closed lower.

Tripple Gee and Company Plc recorded the biggest decline, falling 9.72 per cent to N2.60 per share. ABC Transport Plc followed with a 9.52 per cent decline to N4.75.

Nigerian Aviation Handling Company Plc dropped 9.22 per cent to N136.35, while R.T. Briscoe Nigeria Plc declined 9.21 per cent to close at N10.35 per share.

Trading activity remains strong

Trading activity remained substantial during the session, with investors exchanging 651.24 million shares across 43,674 deals in the main equities market.

The Exchange Traded Funds segment also recorded gains, with Meristem Value Exchange Traded Fund rising 7.84 per cent to close at N150.

Activity was also recorded in the debt market, where the FGS202768 bond gained 14.12 per cent to close at N97.

The session reflects continued investor interest across selected sectors, particularly agricultural, consumer and financial stocks, even as mixed performances among individual equities point to a market still characterised by selective buying.