Nigerian stocks scrape fragile rally as turnover drops
Nigerian stocks inched up 0.2 per cent on Tuesday, the market’s first advance since Wednesday, but that does not seem a sure-footed rebound as the number of decliners more than doubled that of gainers.
Turnover shrank by 25 per cent and transaction volume by 3 per cent, leaving the benchmark index to hinge on gains by two megacap stocks – BUA Cement and Zenith Bank – for the climb.
After the bell, lender GTCO issued a statement saying it got its approval for release of its half-year result and has sought a…