Market cap rebounds to N163.86tn on NGX
The Nigerian Exchange Limited closed positively as market capitalisation rebounded to N163.86tn and the All-Share Index rose by 505.56 points.
Trading on the floor of the Nigerian Exchange Limited closed on a positive note on Thursday, as key market performance indicators appreciated significantly.
The market capitalisation of equities advanced from N163.531tn recorded on Wednesday to close higher at N163.859tn. In tandem with the capitalisation growth, the All-Share Index rose by 505.56 points to close at 252,366.80 basis points compared to the 251,861.24 basis points registered in the preceding trading session.
This positive movement extended the market’s trajectory within a weekly high of 252,456.74 index points and a low of 248,877.22 index points. Sectoral performance indices similarly reflected broad-based gains across various counters, with the NGX Oil and Gas Index advancing from 5,879.41 to 5,991.03 basis points, while the NGX Premium Index moved up from 32,967.82 to 33,165.48 basis points.
Additional sectoral movements included the NGX Banking Index closing at 2,356.81 basis points, the NGX Consumer Goods Index settling at 3,931.84 basis points, and the NGX Industrial Index closing flat at 12,336.94 basis points.
Market activity across equities, exchange-traded products, and bonds demonstrated robust investor engagement as total market volume reached billions of units traded across thousands of deals.
Overall market sentiment remained buoyed by active participation across major board securities, underpinning a resilient trading session for the Nigerian bourse under the benchmark monetary policy rate of 23.00 per cent.
Jide, a seasoned journalist with over 12-year experience, reports business-related stories
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