NGX ASI rises 1.20% on final August trading day

The Nigerian Exchange Limited (NGX) reported that the All-Share Index (ASI) rose 1.20% on the final trading day of August, contributing to a year-to-date return of 56.93%. Despite profit-taking and portfolio rebalancing, the late-month rally helped moderate August's cumulative decline to just 0.44%. Strong investor demand, particularly in mid- and small-cap counters, drove the rally.

Trading activity increased by 29.65% to N38.66bn on 31 August, with 606.13 million shares exchanged across 53,364 deals. The equity market capitalisation closed the month at N157.74trn, showing a slight 0.37% dip from N158.33trn at the end of July, but expanding from $115.72bn to $118.34bn in dollar terms. Experts predict the equity market will maintain a positive trajectory in the coming weeks, driven by anticipated portfolio adjustments before Nigeria's index reclassification.