The Nigerian equity market has recorded its fourth consecutive day of gains, driven by a robust bullish trend. The All-Share Index (ASI) rose by 1.63% to 114,616.75 points, while the total market capitalization expanded by N1.157 trillion to N72.275 trillion.
Trading activity was robust, with 1.46 billion shares changing hands in 16,410 transactions, worth N33 billion. The market sentiment remained positive, with 40 equities posting gains and 22 recording losses.
NGX Group and Champion Breweries were the top gainers, each recording a 10% gain, while Northern Nigeria Flour Mills was the biggest loser, dropping 9.97%. Fidelity Bank dominated trading volume, with 830 million shares traded worth N15.97 billion.
The market’s upward trajectory reflects investor confidence and optimism about the Nigerian economy’s prospects. As the market continues to trend upwards, investors are likely to remain bullish on the market’s prospects.
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