NGX Witnesses Market Rally Led by Banks and WAPCO, Hits ₦986 Billion

The Nigerian Exchange Limited (NGX) witnessed a market rally with banks, WAPCO, and Dangote Sugar (NGX: DANGSUGAR) leading the way, resulting in a ₦986 billion market surge. The All-Share Index (ASI) advanced, buoyed by price appreciation in key stocks like WAPCO, Sugar, Zenith Bank (NGX: ZENITHBANK), and UBA (NGX: UBA).

Market capitalization rose to ₦20.6 trillion from ₦19.6 trillion the previous week, reflecting positive market sentiment. Despite a slowdown in trading activity, sectoral indices like Banking, Industrial Goods, and Consumer Goods closed higher.

Analysts predict a cautious sentiment in the upcoming week, with attention on economic data and policy decisions driving investor sentiment.