The market capitalisation had shed N158bn on Wednesday on the back of losses recorded by MTN Nigeria , Wema Bank , Fidelity Bank , Sterling Financial Holding Company , FCMB and FBN Holdings .
The market capitalisation also increased by 0.39 per cent to reach N36.53tn, primarily driven by buying interest in banking, consumer goods, and industrial goods stocks plus the listing of the Nigerian Industrial Development Fund. The NIDF, a N200 billion public infrastructure investment fund was listed on the NGX adding about N92bn in capitalisation to the exchange.
Meanwhile, investor attention has remained on the third quarter earnings reporting season and the expected reconvening of the Monetary Policy Committee meeting by the Central Bank of Nigeria which is anticipated to provide economic direction.Trading activities on the NGX led to an increase in the number of gainers, 24, compared to declining ones, 19.