Green at last: NGX snaps a 7-day losing streak

The NGX All-Share Index closed Friday up 0.16% at 248,432.04, its first green day after 7 straight red sessions.

Today's top movers:
• Livestock Feeds +10% to ₦13.20, its second big day in a row (it rose 9.09% to ₦12 on Thursday)
• Guinea Insurance +9.41% to ₦0.93
• Regency Alliance Insurance +8.57% to ₦0.76
• Red Star Express -9.76% to ₦13.40
• AVA Capital -9.48% to ₦5.25

My take: one green day doesn't make a trend. A 0.16% gain is small next to the ₦1.33trn the market lost on Thursday alone. Before calling a bottom, watch whether the bounce holds into next week and whether the big names, Aradel and the banks, join in.

Did you buy the dip this week, or are you still waiting? Tell me in the comments.

Sources: Mansa Markets, Business Times Nigeria

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