The Nigerian Exchange Limited ended August on a resilient note as a late buying surge pushed the All-Share Index up 1.20 per cent on the final trading day, cementing a year-to-date return of 56.93 per cent despite profit-taking and portfolio rebalancing that characterised overall trading during the month.
The late-month rally helped moderate August’s cumulative decline to just 0.44 per cent, leaving the domestic bourse’s impressive annual gains largely intact following a stellar performance through the first seven months of the year.
Strong investor demand on the month’s final session was particularly evident in mid- and small-cap counters, with equities such as Ikeja Hotel Plc, SUNU Assurances Nigeria Plc, and Sovereign Trust Insurance Plc drawing significant buying interest that pointed towards renewed market appetite entering September.
Overall trading activity recorded a sharp uptick as total transaction value soared 29.65 per cent to N38.66bn on 31 August, compared with N29.82bn recorded in the previous trading session, driven by 606.13 million shares exchanged across 53,364 deals.
Total equity market capitalisation closed the month at N157.74trn, reflecting a slight 0.37 per cent dip from N158.33trn at the end of July, though in dollar terms, market valuation expanded from $115.72bn to $118.34bn over the same period.
