The Nigerian Stock Market has recorded its 10th consecutive day of gains, with investors earning N308 billion on Thursday. This uptrend is a notable continuation of the market’s positive performance, which has been sustained over the past week.
The Nigerian Exchange Limited (NGX) market capitalisation rose by 0.33 per cent, from N92.490 trillion to N92.798 trillion, indicating a significant increase in investor confidence. The All-Share Index also experienced a 0.33 per cent growth, adding 485.25 points to close at 146,204.34, up from 145,719.09 on Wednesday.
Trading activity was robust, with 32 stocks recording gains and 21 experiencing losses. Eunisell Interlinked and Caverton Offshore Support Group led the gainers’ chart, with a 10 per cent increase each, closing at N44 and N6.93 per share, respectively. Conversely, FTN Cocoa Processors topped the losers’ table with a 6.67 per cent decline, closing at N5.60 per share.
A total of 346.99 million shares valued at N27.43 billion were traded in 24,691 deals, compared to 525.72 million shares worth N13.61 billion exchanged in 25,597 deals on Wednesday. Fidelity Bank was the most active stock, with 42.01 million shares valued at N861.54 million changing hands.
The Nigerian stock market’s sustained growth since the end of last month is a positive indicator of the country’s economic resilience. As the market continues to attract investors, it is likely to have a positive impact on the overall economy. With the NGX maintaining its bullish run, investors are eagerly watching to see if this trend will persist in the coming days.
