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By Daniel Adaji
The Nigerian Exchange (NGX) witnessed a modest but notable recovery across key sector indices on April 11, 2025, as both the NGX Banking Index and the NGX Oil & Gas Index rebounded following a dip on April 10. However, when compared to figures from March 11, both sectors still reflect slight downward trends over the one month.
Data obtained by Pointblank News on Sunday indicated that on April 11, the NGX Banking Index climbed by 1.64 per cent to close at 791.54 points, recovering from 778.74 points recorded on April 10. This rise reversed a minor 0.07 per cent loss seen the previous day. Similarly, the NGX Oil & Gas Index rose by 0.17 per cent to 1,227.62 points after a 0.11 per cent dip the day before.
Compared to March 11, however, both indices remain lower. The Banking Index has dropped by 4.32 per cent from 827.30 points, while the Oil & Gas Index has declined by 1.33 per cent from its March 11 figure of 1,244.22 points.
The NGX Banking Index tracks the performance of major Nigerian banks listed on the Exchange, while the NGX Oil & Gas Index reflects the market strength of top oil and gas companies. An index measures the average value of selected stocks, and percentage changes represent daily gains or losses.
The uptick in both indices on April 11 may signal renewed investor confidence in key sectors, particularly banking, which may have benefited from recent earnings reports or anticipation of monetary policy changes.
Despite the April 11 gains, the dip between March and April suggests that both sectors are still navigating economic uncertainties.
The oil and gas sector, for instance, remains sensitive to global crude price volatility, while banks may be reacting to shifting interest rate expectations or regulatory updates.
The April 11 rebound is a positive sign for investors, especially after the subdued performance on April 10. Continued growth will depend on broader economic indicators, corporate performance, and global market conditions.