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Nigerian stocks regain steam as investors risk appetite deepens

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Oil company Oando led the comeback.

Nigerian stocks found resilience Thursday after yielding a little ground at the Wednesday session as the benchmark index jumped 0.85 per cent, setting equities on course for another week of positive return.

“This week, we expect the market to maintain its bullish momentum as investors continue to take positions in anticipation of the forthcoming end-of-year releases,” United Capital said in its outlook note for this week. The all-share index climbed 399.14 basis points to 47,329.80, while market capitalisation scaled up to N25.5 trillion.Oando topped the gainers’ chart, appreciating by 10 per cent to close at N10. Academy added 9.73 per cent to end trade at N1.24. SCOA advanced by 9.62 per cent to N1.14.

 

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