Nigerian stocks recovered last week after weeks of losses, with the benchmark index gaining 0.81 percent to close at 241,298 points. Market capitalisation rose to N155.8 trillion as investors returned to oil and gas, banking, and value stocks.
University Press led gainers with an 18.75 percent jump, while FirstHoldCo and Seplat Energy also posted strong double-digit gains. International Energy Insurance topped the losers’ chart after shedding more than 26 percent.
Trading volume dropped sharply to 2.5 billion shares worth N123 billion in a shortened four-day week that was closed on Tuesday for the Eid el-Maulud holiday. The financial services sector accounted for the bulk of activity.
Sector-wise, Oil and Gas led the rebound with a 4.54 percent rise, followed by Banking and Commodities. Consumer Goods and Insurance remained weak, dragging down overall monthly performance.
The week also saw new listings, including additional shares from Prestige Assurance and International Energy Insurance, boosting the total number of shares on the exchange.
