Nigerian Exchange Rebounds to N155.59 Trillion Capitalization

The Nigerian Exchange (NGX) experienced a rebound, achieving a market capitalization of N155.59 trillion during mid-week trading. The benchmark share index closed at 242,459.98 points, reflecting a significant increase from the previous day's position of 237,083.28 points.

This upward trend was influenced by the Central Bank of Nigeria's decision to maintain its monetary policy rate at 26.50%, providing a stable economic backdrop that encouraged domestic institutional investors to deploy capital aggressively. The banking and energy sectors showed substantial interest, with the NGX banking index finishing strong at 2,137.61 points.

Notable gainers included FBN Holdings and Wema Bank, which saw gains of 10.00% and closed at N60.50 and N29.70, respectively. Aradel also recorded a significant increase of 9.99%, closing at N127.50.

The NGX Oil and Gas index closed at 5,292.70 points, demonstrating robust market performance, while the VSPBondETF recorded a notable advance of 6.81%, finishing at N251.00.