Learn Africa Plc recorded a strong rebound on the Nigerian Exchange Limited (NGX) on Thursday, with its share price surging 8.93 percent to close at N9.15, marking a significant recovery from the sharp decline seen in the previous week. The stock gained 75 kobo from its prior closing price of N8.40, positioning it among the top performers during the trading session. This rise follows a notable selloff that occurred during the week ending October 2, when Learn Africa’s shares dropped 11.05 percent, falling from N8.60 to N7.65 and shedding 95 kobo per share.
The latest increase has now lifted the stock by N1.50, or approximately 19.6 percent, from its low point of N7.65 at the end of the previous week. More importantly, Learn Africa has surpassed its pre-selloff level of N8.60, closing at N9.15—55 kobo, or about 6.4 percent, higher than that benchmark. This indicates not only a full recovery from the earlier losses but also a new upward momentum for the educational publishing company.
Despite Learn Africa’s impressive performance, the broader Nigerian equity market experienced a downturn on Thursday. The NGX All-Share Index declined by 0.82 percent to settle at 248,042.50 points, while the total market capitalisation stood at N161.052 trillion. Trading activity remained robust, with investors exchanging 492.23 million shares valued at N38.02 billion across 38,711 deals.
Other notable gainers on the day included E-Tranzact International, which rose 10 percent to N12.10 from N11, and Livestock Feeds, which climbed 9.09 percent to N12. Guinea Insurance also advanced by 8.97 percent, moving from N0.78 to N0.85. On the downside, Eterna and Aradel Holdings both fell 10 percent, while Cutix dropped 9.02 percent. These movements highlight the mixed sentiment across different sectors during the session.
Learn Africa’s recovery underscores investor confidence in the company’s fundamentals despite recent volatility. The stock’s ability to rebound sharply and surpass its previous peak suggests renewed interest and optimism. As the educational sector continues to grow in Nigeria, Learn Africa’s performance may signal broader positive trends for companies in this space. Moving forward, continued stability and growth could further strengthen its position on the NGX.
Leave a Comment