A strong rebound in the share price of Aradel Holdings as well as Oando Plc, on Thursday, rescued the Nigerian equities market from bear grip. For the first time since after listing on October 14, Aradel chalked maximum daily 10 percentage gain just as Conoil (+10.0%) while Oando share price jumped by seven per cent.

Significant gains in the two petroleum equities as well as two banking stocks of ZENITHBANK (+0.82%), and ACCESSCORP (+1.24%), helped to drive the Nigerian Exchange (NGX) benchmark All Share Index higher by 0.4 per cent to 96,924.86 points while the market capitalisation rose by N216.83billion to close at N58.73trillion.

These gains offset losses in GTCO (-1.02%), FBNH (-1.45%), and UBA (-1.74%),and improved the Month-to-Date and Year-toDate returns at -0.7 per cent and +29.6 per cent, respectively.

The total trading volume increased by 78.0 per cent to 744.54 million units, valued at N16.48 billion, and exchanged in 9,700 deals. JAPAULGOLD was the most traded stock by volume at 105.93 million units, while Julius Berger was the most traded stock by value at 4.55 billion.

On sectoral performance, the Insurance (+1.8%) and Oil & Gas (+1.8%) indices advanced, while the Banking (-0.4%) index declined. The Indus – trial Goods and Consumer Goods indices closed flat.

A total of 29 stocks gained relative to 17 losers. CONOIL (+10.0%) and ARADEL (+10.0%) topped the gainers’ list, while Tantalizer (-6.3%) and NGX Group (-5.8%) recorded the highest losses of the day.

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