Nigerian Stock Market Rises on Strong Investor Sentiment

The Nigerian stock market started the week on a positive note, with the benchmark share index (NGXASI) increasing by 0.58%. Strong investor interest was observed in stocks such as NCR, IMG, Maybak, Honeywell Flour, WAPCO, FirstHoldCo (NGX: FIRSTHOLDCO), NGX Group, NB, Aradel, Cadbury, PZ, Access Bank (NGX: ACCESSCORP), Transcorp, ETI (NGX: ETI), Wema Bank (NGX: WEMABANK), GTCO (NGX: GTCO), and Custodian.

Market capitalization rose to N104.52 trillion, with investor wealth growing to N744.99 billion. Fidelity Bank (NGX: FIDELITYBK) recorded the highest trade value at N3.14 billion.

ACAMB dismissed rumors of imminent bank closures, emphasizing the falsity of such claims.