Investors on the Nigerian Exchange Limited (NGX) recorded a massive N6.764 trillion gain over the past week, extending the market’s sustained bullish momentum.
Market data showed that investors added about N2.4 trillion to their portfolios on Friday alone, underscoring renewed buying interest across major counters.
Total market capitalization climbed from N114.660 trillion at the start of trading to N117.027 trillion on Friday, representing an increase of N2.367 trillion, or 2.06 percent.
Similarly, the All-Share Index (ASI) advanced by 2.06 percent, gaining 3,687.45 points to close at 182,313.08, compared with 178,625.63 recorded on Thursday.
Following the rally, the market’s year-to-date (YTD) return rose further to 17.16 percent.
Market breadth also closed positive on Friday, with 53 stocks recording gains against 33 decliners.
Leading the gainers’ chart were Nestlé Nigeria, Union Dicon Salt, Infinity Trust, McNicholas, and Cornerstone Insurance, all appreciating by 10 percent.
On the losers’ side, Skyway Aviation Handling Company topped the chart with a 10 percent decline to close at N135, followed by Guinness Nigeria and Omatek Ventures.
The strong finish on Friday capped a positive trading week in which the NGX recorded gains of N1.4 trillion, N1.8 trillion, N881 billion, and N283 billion from Monday to Thursday.
Speaking to the News Agency of Nigeria (NAN), market analyst Aruna Kebira attributed the week-long rally to improved corporate earnings, rising dividend expectations, and renewed interest from institutional investors.
Eze Chidiebere Paul
I'm dedicated to creating high-quality content that informs, inspires, and delights. If you have any questions or suggestions, don't hesitate to get in touch. Happy reading!
