Demand for Transpower, FBNH drive NGX ASI up by 2.61%

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Nigeria’s stock market witnessed a resurgence of positive sentiments fueled by strong demand for shares of Transpower, FBN Holdings, and MTNN.

The All Share Index (ASI) recorded a notable 2.61% increase, closing at 101,330.85 points compared to the previous week’s close of 98,751.91 basis points.In tandem with the ASI growth, the market capitalization of listed equities saw a robust 6.03% week-on-week (w/w) surge, soaring to N57.29 trillion from the previous week’s N54.03 trillion.

This uptick in market capitalization translated to investors gaining N3.3 trillion during the week.Trading activity data for the week revealed a significant uptick, with investors on the local bourse trading a total of 2.157 billion shares valued at N108.82 billion across 51,556 deals. This marks a substantial 14.6% increase compared to the previous week’s figures of 1.882 billion shares worth N34.149 billion traded in 48,464 deals.

Source: The Sun

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