By Taiye Olayemi
The Nigerian stock market staged a modest recovery on Friday, with investors gaining N234 billion as renewed buying interest reversed a four-session losing streak and lifted key market indicators.
At the close of trading, the market capitalisation of the Nigerian Exchange (NGX) increased by N234 billion, rising from N155.359 trillion recorded on Thursday to N155.593 trillion.
Similarly, the All-Share Index (ASI) advanced by 366 points, representing a gain of 0.15 per cent, to close at 242,593.31 points, compared to 242,227.31 points posted in the previous trading session.
The News Agency of Nigeria reports that the rebound further strengthened the market’s year-to-date return, which improved to 55.90 per cent, underscoring sustained investor confidence despite recent market volatility.
Market sentiment remained broadly positive as gainers significantly outnumbered losers. A total of 39 equities appreciated in value, while only 11 stocks closed in negative territory.
Abbey Mortgage Bank, International Energy
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