NGX opens week bullish, market cap gains N160bn

The Nigerian equities market started the week on a bullish trend, with gains in Nestle Nigeria and 19 other stocks driving a N160bn increase in total market capitalisation. The All-Share Index rose by 0.10%, closing at 243,299.24 points, while market capitalisation expanded to N157.747tn. The positive momentum was fueled by price appreciation in medium and large-capitalised stocks, including Nestle Nigeria, Nigerian Exchange Group, FBN Holdings, Custodian Investment, and Dangote Sugar Refinery.

However, investor sentiment remained cautious due to a market breadth of 28 losers versus 19 gainers.

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