In the trading week concluding on September 1, Nigeria’s stock market experienced significant growth, with an increase of 3 percent or N1.08 trillion. This surge was primarily driven by increased investment in banking, consumer goods, and oil & gas stocks.
Leading the list of top-performing stocks were companies such as Dangote Sugar Refinery, Nascon, Nahco, and GSK. These companies contributed significantly to the market’s positive performance.
The market started the new month on a positive note, with a gain of 1.47 percent. Year-to-date (YtD), the market has recorded an impressive return of 31.76 percent, reflecting strong investor confidence.
The Nigerian Exchange Limited (NGX) All-Share Index (ASI) and the overall market capitalization both saw substantial increases during the week. They rose from the previous week’s lows of 65,558.91 points and N35.881 trillion to 67,527.19 points and N36.958 trillion, respectively.
This significant growth in the Nigerian stock market indicates renewed investor optimism and suggests positive economic sentiment in the country.