Nigerian Stock Market Rebounds, Adds ₦30bn to Investors’ Portfolios
The Nigerian stock market staged a modest recovery on Friday, reversing the previous session’s losses and boosting investor confidence with a ₦30 billion gain in market capitalization.
At the close of trading on the Nigerian Exchange Ltd. (NGX), the market capitalization rose to ₦106.353 trillion, reflecting renewed buying interest across key sectors. The All-Share Index (ASI) inched up by 0.04%, settling at 166,129.50 points.
Market sentiment was broadly positive, as evidenced by the market breadth: 43 equities recorded gains, outpacing the 26 that declined. This uptick suggests a return of bullish momentum, albeit cautiously, as investors recalibrate their positions in response to recent market fluctuations.
Analysts attribute the rebound to bargain hunting in fundamentally sound stocks and a general improvement in investor outlook following recent macroeconomic signals.
The NGX’s performance on Friday underscores the resilience of the Nigerian equities market amid global and domestic uncertainties, offering a glimmer of optimism for market participants heading into the new week.
