Nigerian stocks end losing streak on Seplat, MTN gains

Nigerian stocks expanded by 0.15 per cent on Wednesday, partly erasing the losses posted at the two previous sessions in an advance led byHelping gains, the oil and gas index moved 0.92 per cent to 314.21 basis points, the most advance by the five sectorial indexes tracked by the bourse

“We expect market sentiment to be a mix of bargain hunting and profit-taking in tomorrow’s trading session,” said analysts at broker and investment bank Afrinvest.The all-share index closed at 38,564.70 basis points, just as market capitalisation climbed to N20.099 trillion at the end of trade. Year to date, the index is down by 4.24 per cent.Cornerstone topped the gainers’ chart, appreciating by 10 per cent to close at N0.55. Morison added 9.68 per cent to end trade at N1.36.

Consumer Warehouse Group slipped to N1.15, losing 7.26 per cent. Wapic slumped to N0.53, recording 7.02 per cent depreciation. Regal Insurance closed at N0.45, going down by 6.25 per cent.A total of 302.723 million shares estimated at N2.810 billion was traded today in 4,387 deals.

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