Stock Market Extends  Positive  Momentum, Gains N111bn on Demand for  Lafarge, Others

The Nigerian Exchange Limited (NGX) continued its positive momentum, gaining N111 billion in market capitalization. This growth was attributed to increased investor demand for stocks like Lafarge Africa Plc and 49 others.

The NGX Index rose by a basis point, closing at a 0.49% increase, while market capitalization reached N21 trillion. Sector performance was mixed, with the Insurance Index and Industrial Goods Index closing higher, while the Banking and Oil & Gas indices declined.

Investor sentiment remained positive, with 50 stocks advancing and 29 declining. Associated Bus Company, Champion Breweries, and Ellah Lakes were among the top gainers, while Juli and Unilever Nigeria were top losers.

Market activity saw Lasaco Assurance topping the charts in terms of volume. Analysts at Afrinvest Limited expect the market to maintain its positive performance driven by improved investor sentiment.