NGX Closes Positive with 0.90% Gain on August 28

On August 28, 2023, the Nigerian Exchange Limited (NGX) closed positively, with the NGX All-Share Index (ASI) rising by 2,142.38 points to reach 241,298.47 points, marking a 0.90 percent gain. Market capitalization also saw an increase, moving from N154.442 trillion at the opening to N155.825 trillion at the close, adding approximately N1.383 trillion to investors' wealth.

The market breadth improved significantly, with 33 equities recording price gains compared to 19 decliners, indicating stronger buying activity during the session. This positive market breadth supported the benchmark's advance, reversing some of the previous session's weaknesses.

Notably, major stocks such as Seplat Energy contributed to the overall market value increase, while stocks like Dangote Cement Plc, Okomu Oil Plc, Livestock Feeds Plc, UPDC Plc, and Champion Breweries Plc closed unchanged. The session's performance reflects a stronger market close driven by renewed buying interest.