NGX All-Share Index Rises 2.36% in Early September

In the first trading week of September, Nigeria's equities market saw the NGX All-Share Index (ASI) increase by 2.36%, closing at 246,992.44 points, up from 241,298.47 points the previous week. The market capitalization rose by 2.40% to N159.559 trillion, contributing to a year-to-date return of 58.72%.

The NGX Oil and Gas Index led with a 9.10% weekly gain, while other indices such as Commodity, Insurance, Premium, and Banking also saw significant increases. Trading activity surged, with 4.360 billion shares exchanged worth N210.331 billion across 223,284 deals, marking a 70.7% increase in turnover value and a 73.9% rise in volume week-on-week.

The Financial Services sector was the most active, accounting for 82.10% of total equity turnover volume. Royal Exchange, Champion Breweries, and Nigerian Breweries were among the top gainers, with Royal Exchange increasing by 25%.

Market breadth improved, with 56 equities appreciating in price.