Nigeria Equity Bourse Sustains Bull Rally; ASI Rises by 1.57%


The Nigerian equities market concluded the trading week on a bullish note, with the All-Share Index (ASI) recording a 1.57% gain, closing at 104,421.23 points.

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The market capitalization also increased by N17.97 billion to N36.88 trillion, accounting for more gainers (61) than decliners (12).

The bullish sentiment was particularly notable in the Banking and Consumer goods sectors, contributing to a year-to-date gain of 30.9%. Key contributors to the gains included TRANSCORP, NEIMETH, STERLINGNG, MEYER, and PZ, with notable price movements.

The sectoral performance was mixed, with the Banking and Consumer goods indexes leading the gainers, while the Insurance sector faced a decline. Trading activity exhibited a varied trend, with total deals for the day declining, but the total traded value and volume increasing significantly.

The NGX Banking, NGX Insurance, NGX Consumer Goods, NGX Oil/Gas, and NGX Industrial indexes posted gains, while the Insurance sector faced a decline. The market closed with more gainers (22) than decliners (9), reflecting positive momentum.

In the fixed-income market, NIBOR rose due to tight liquidity conditions. Overall, the report suggests a positive trajectory in the equities market, with continued bullish sentiment and notable sectoral performances.

Godwin Okafor
Godwin Okafor
Godwin Okafor is a veteran Financial Journalist, Internet Social Entrepreneur, and the visionary Founder of Naija247news Media Limited. With an extensive career spanning over 16 years in financial journalism, Godwin possesses a wealth of experience that seamlessly bridges both traditional and digital media landscapes. His journey in journalism commenced at Business Day, Nigeria, where he laid the foundation for his prolific career. In 2010, Godwin took a bold step by founding Naija247news Media, a platform that has since become a prominent player in delivering timely and accurate news. Educationally, Godwin Okafor holds a Bachelor's degree in Industrial Relations and Personnel Management from the prestigious Lagos State University, Ojo, Lagos. His commitment to continuous learning led him to the Lagos Business School, where he further honed his skills. Additionally, he is recognized as a Fellow of the University of Pennsylvania, having successfully completed the Wharton Seminar for Business Journalists. Throughout his illustrious career, Godwin has earned acclaim by winning numerous journalism awards, a testament to his dedication to excellence in reporting. Beyond his role as a Financial Journalist, Godwin Okafor wears the hat of the Chairman at Emmerich Resources Limited, the publishing entity behind Naija247news. His visionary leadership has played a pivotal role in shaping the media landscape and establishing Naija247news as a trusted source of information. Godwin Okafor's multifaceted expertise, commitment to journalistic integrity, and leadership in the realm of business journalism underscore his influential presence in both the media and entrepreneurial spheres.

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