Nigerian stocks experienced a positive rebound, with the NGX All Share Index climbing 0.85% to 109,953. The process industries sector led the gains, reflecting a mixed market breadth. Standout stocks included Aradel and BUA Foods, while some sectors, like distribution services, faced losses. This rebound coincides with renewed foreign interest, including a strategic partnership with China and Türkiye's trade volume increase plans. The African Continental Free Trade Area's launch is expected to enhance export conditions. Overall, the outlook remains cautiously optimistic amid these developments and macroeconomic stability.
Standout performers included Aradel, up 9.98%, BUA Foods (+5.26%), and Zenith Bank (+1.79%), while sectors like distribution services faced declines.
The rally coincides with renewed foreign engagement in Nigeria, with China increasing cooperation in infrastructure while Türkiye aims to boost trade volume.
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