Nigeria's NGX ASI gains 2.36% in first week of September
The Nigerian benchmark index climbed to 246,992 points as turnover surged by 70.7 percent.
Nigeria's equities market opened the month positively on Friday, September 4, with the NGX All-Share Index rising 2.36 percent to close at 246,992.44 points. Market capitalization reached N159.559 trillion, and the year-to-date return hit 58.72 percent. Strong trading activity drove the results, with investors exchanging 4.360 billion shares totaling N210.331 billion across 223,284 deals. This represented a 70.7 percent increase in turnover value and a 73.9 percent rise in deal count compared to the preceding week. The NGX Oil and Gas Index led all sectors with a 9.10 percent weekly gain. Other rising indices included Commodity, Insurance, Premium, and Banking at roughly 3.58 percent to 5.99 percent respectively. Only the Industrial Goods Index and Sovereign Bond Index declined by less than half a percent. The surge in activity occurred alongside improved market breadth, signaling sustained investor engagement at the start of September.
