Stock Market Gains N187bn W-o-W  on Positive Sentiment

Stock Market Gains N187bn W-o-W on Positive Sentiment

Kayode Tokede

The stock market section of the Nigerian Exchange Limited (NGX) closed last week on a positive note, advanced by N187 billion buoyed by positive investor sentiment across key counters.

The NGX All-Share Index (ASI) gained 0.12 per cent week-on-week to close at 245,573.60 points, while market capitalisation increased by N187 billion to N158.513 trillion. Consequently, the market’s year-to-date return improved to 57.81 per cent.

Despite the positive performance of the benchmark index, market breadth remained negative, with 26 gainers against 63 losers, reflecting cautious investor sentiment, as declining stocks continued to outnumber advancing stocks throughout the week.