Nigeria Stock Market Rebounds, Closes Week Positive, Investors Gain N425bn

The Nigerian Stock Market rebounded and closed the week on a positive note, with investors gaining N425 billion. The Nigerian Exchange NGX halted four consecutive days of losses as the market index ASI climbed, adding a basis point to close at a return of 37.

Market capitalization also rose to N20 trillion on Friday, compared to N19 trillion the previous week. Investors saw gains from companies like Beta Glass Plc, Veritas Kapital Assurance Plc, Chemical Allied Products Plc, and BUA Foods Plc.

The market breadth closed positive with 51 gainers and 13 losers. The Nigerian Foreign Exchange Market also saw a slight gain against the US dollar, appreciating after four days of decline.

Analysts attributed the modest gain to improved dollar liquidity, CBN intervention, and rising foreign inflow.