Bulls Hold Sway as NGXASI Up by 53 bps, Investors Gain N249.12Bn

Nigerian Stock Exchange Trading Floor. Image Credit: NGX

— NGXASI stands at +31.57% (YTD); Naira remained unchanged to close at N1,339.33

May 28, 2024/Futureview Research

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Bullish momentum prevails in the domestic bourse as the day’s trading closed in the green, continuing the positive trend from the previous trading session as the All-Share Index (NGXASI) gained 0.53% to close at 98,383.04 points from 97,863.34 points in the previous session.

The positive performance was primarily driven by investors  continued interest in Tier 1 banks and other major stocks like – DANGSUGAR (+10.00%) , TRANSCORP (+8.57%) , NB (+8.25%), FBNH (+4.27%), SEPLAT (+3.33%), ZENITHBANK  (+2.11%), GTCO (+0.66%), ACCESSCORP (+0.29%) and 20 others.

Consequently, the year-to-date return settled at 31.57%. Similarly, the overall market capitalization increased by 0.53% to close at N55.65 trillion as investor’s wealth grew by N249.12 billion.

Market activity for the day was positive as volume and value traded increased by 52.49% and 10.85% to 559.61 million units and N6.58 trillion, respectively.

We expect bulls to extend dominance in the coming session amidst renewed interest in the banking stocks.


The Nigerian Naira closed flat against the US Dollar in the NAFEM Window, closing at a rate of ₦1,339.33.

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