Nigerian stocks scramble back to recovery with N110 billion gain

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Sector heavyweights including Seplat, Nestle and Dangote Cement led the comeback.

its aspiration to restart its share buyback soon, both developments pushing up demand for their shares and strengthening gainsThe insurance index progressed faster than the rest four sectorial indexes tracked by the exchange, moving 2.50 per cent to 205.43 basis points.The benchmark index garnered 212.37 basis points, to close at 40,154.09 index points, while market capitalisation increased by N110 billion to N19.940 trillion.Ikeja Hotel led gainers, appreciating by 10 per cent to close at N1.

Royal Exchange added 9.46 per cent to end trade at N0.81. Neimeth advanced by 9.30 per cent to N1.88. Japaul rose to N0.59, notching up 9.26 per cent. Mutual Benefits completed the top 5, climbing up by 9.09 to N0.48.Academy topped the losers’ chart, diving by 8.33 per cent to close at N0.33. Lasaco shed 7.69 per cent to end today’s trade at N1.44. John Holt fell to N0.63, losing 7.35 per cent. Presco slumped to N75.90, recording 3.80 per cent depreciation.

 

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