Nigeria, May 5 -- Nigeria stocks advanced by 0.3 per cent this week, riding on the generally positive first-quarter earnings reports of quoted companies to boost sentiment. It marked the second consecutive week of appreciation, with the industrial goods index leading the charge across the sectors.

Interest in equity increased, with trade volume improving by 18.7 per cent, despite limited trading days on account of a labour day holiday on Thursday.

"Generally, investors await Monetary Policy Committee (MPC)'s decision in their upcoming meeting in May," said analysts at United Capital ahead of the week.

"Concurrently, retail investors are engaging in profit-booking, resulting in selloffs that impede the consistent upward movement of stoc...