NGX opens September on bullish note, gains N1.22tn

NGX trading floor. Photo: NGX

Trading on the Nigerian Exchange Limited opened the month of September on a bullish note on Wednesday, as capital appreciation in key mid-cap and blue-chip equities lifted total market capitalisation by N1.22tn.

The benchmark NGX All-Share Index appreciated by 1,883.24 basis points, or 0.77 per cent, to settle at 246,082.63, while the market capitalisation of equities expanded to close at N158.96tn from N157.74tn recorded in the previous session.

This broad-based rally pushed the year-to-date market return higher to 58.14 per cent as buying sentiment extended across multiple sectors on the local bourse.

The sustained positive momentum was primarily anchored by price appreciation in energy, consumer goods and financial heavyweights, including Aradel Holdings, Nestlé Nigeria, HBM Nigeria, May & Baker Nigeria and First HoldCo.