Bullish Trading Return
After a prolonged four-day bearish period, the Nigerian Exchange Limited witnessed a bullish resurgence, providing a glimmer of hope to investors.
Positive Market Sentiments
The market capitalization and All-Share Index both rose by 0.12 per cent, adding N41 billion to the market, reaching N34.973 trillion and 64,267.36, respectively.
Gainers Outpace Losers
On Wednesday, 31 stocks emerged as gainers, led by AbbeyBDS, Chams, and NASCON, with their share prices appreciating by 10 per cent each. In contrast, only 26 stocks were on the losers’ side, witnessing declines in their market value.
It is evident that the Nigerian Exchange Limited saw a positive shift in market dynamics, with investors finally rejoicing after four consecutive days of bearish trading. The rebound not only boosted the market capitalization but also lifted the All-Share Index, signaling potential growth opportunities for traders and investors alike.
Despite the positive sentiment, some metrics on the NGX trading floor were on the downside, as the number of deals, volume, and value trended negatively compared to the previous day. However, these factors didn’t dampen the overall market mood, as the year-to-date returns remained at a promising 25.28 per cent.
