Nigerian stocks climbed to a nine-month high on Wednesday after curfews imposed last week to curb protests over alleged police brutality were eased and investors piled into consumer goods shares.
The share index rose 1.58% to 29,437 points, the highest level since January. The index of Nigeria’s top consumer goods shares gained 5.67%.
Nigeria’s stocks had been rising in October following a central bank interest rate cut last month and as money market liquidity flowed into equities.
They fell last week after several states imposed round-the-clock curfews as demonstrations against police brutality turned violent and soldiers fired on protesters in the commercial capital of Lagos.
Lagos and other states have since eased the restrictions.
A total of 40 companies advanced and five firms declined, while a hundred others saw no trades.
Nestle led the gainers, rising the maximum 10% allowed on the bourse. FCMB Bank, Conoil and Oando each rose more than 9%.