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Equities Market

The Nigerian equities market began the new trading week on a favorable trajectory, after three days of profit taking activity in the previous week. This resulted in a 60 basis points increase for the NGX All-Share Index (NGXASI). The index opened the week at 62,943.35 points, compared to its previous session close of 62,569.73 points.

The market’s upward trajectory was primarily propelled by the strong performance of key stocks such as GEREGU (+6.06%), ACCESSCORP (+9.70%), FIDELITYBK (+10%), ETI (+9.84%), ZENITHBANK (+4.46%), and FBNH (+9.81%). These stocks, alongside 36 others, influenced investor sentiment positively, highlighting their potential as cost-effective asset options.

As a result, the Year to Date (YTD) return surged to 22.81%, and the overall market capitalization experienced a 0.60% increase, closing at N34,273.28 billion. Consequently, investors’ wealth witnessed a significant increase of N203.44 billion.