Nigerian stocks up after two-day decline

Nigerian stocks up after two-day decline

7/30/2021 11:41:00 PM

Nigerian stocks up after two-day decline

Transcorp contributed 41 per cent of the entire volume, which stood at 387.2 million.

laid bareto the Nigerian government in Abuja a masterstroke plan to develop an alternative power solution in the country using nuclear source, the first of such initiative to be seen in Africa’s largest economy. The company’s stock jumped to the top of the gainers’ chart in Lagos and recorded the largest number of deals of the day following the news.

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But that itself has been a concern for months on head as size of trade is yet to regain its pre-pandemic, with smart money from foreign investors still elusive to a market so much starved by liquidity that several mind-blowing corporate result thronging the bourse since the start of July have been incapable of swinging the market back to positive year-to-date return.

Market breadth was negative with 20 gainers emerged against 26 losers.The all-share index was down by 62.26 basis points to 38,547.08 points, while market capitalisation slipped to N20.084 trillion.The index has weakened by 4.28 per cent so far this year.

TOP FIVE GAINERSTranscorp led gainers, appreciating by 9.68 per cent to close at N1.02. Ikeja Hotel climbed up by 9.24 per cent to N1.30. NAHCO added 6.09 per cent to end close at N2.44. Oando advanced by 5 per cent to N1.68. Livestock rose to N4.89, notching up 2.95 per cent in the process.

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