The Nigerian stock market closed on a strong note as total market capitalisation increased by ₦953 billion, reflecting renewed investor confidence on the Nigerian Exchange Limited (NGX).
The rally pushed the NGX All-Share Index up by nearly 1 per cent, supported by gains across several sectors. Market breadth remained positive, with advancing stocks outnumbering decliners, indicating broad participation in the rally.
Stocks such as Industrial and Medical Gases, SCOA Nigeria, May & Baker, McNicholas, and FTN Cocoa Processors recorded notable price increases, contributing to the overall market growth.
Analysts attributed the positive performance to improved sentiment, bargain hunting, and expectations of stronger corporate earnings, reinforcing optimism in Nigeria’s equities market despite prevailing economic challenges. Visit www.jocomms.com for more news.