Market cap rebounds to N163.86tn on NGX

The Nigerian Exchange Limited's floor witnessed a positive trading session on Thursday, with key market performance metrics showing significant improvement. The market capitalization of equities rose from N163.531tn to N163.859tn, while the All-Share Index climbed 505.56 points to close at 252,366.80 basis points, marking an increase from the previous day's 251,861.24 basis points.

This upward trajectory extended the market's weekly range from a high of 252,456.74 index points to a low of 248,877.22 index points. Broader sectoral indices also experienced gains, with the NGX Oil and Gas Index increasing from 5,879.41 to 5,991.03 basis points, the NGX Premium Index moving up from 32,967.82 to 33,165.48 basis points, the NGX Banking Index settling at 2,356.81 basis points, the NGX Consumer Goods Index at 3,931.84 basis points, and the NGX Industrial Index remaining steady at 12,336.94 basis points.

Robust investor engagement across equities, exchange-traded products, and bonds characterized the trading session, with total market volume reaching billions of units across thousands of transactions. The market sentiment remained positive, driven by active participation in major board securities and the benchmark monetary policy rate of 23.00 per cent.