Suara Sherif
The Nigerian equities market extended its positive run in August, with the Nigerian Exchange (NGX) recording a N1.9 trillion increase in market capitalisation as investors maintained strong buying interest.
The All-Share Index (ASI) gained 2,900.92 points, representing a 1.20 per cent increase, to close at 244,199.39 points. Market capitalisation also climbed to N157.739 trillion.
The rally was driven by strong interest in major and mid-cap stocks, including Aradel Holdings, MTN Nigeria Communications, Nigerian Exchange Group, Zenith Bank and Ecobank Transnational Incorporated.
Market breadth was strongly positive, with 43 stocks recording gains, compared with just 16 decliners, reflecting broad-based buying across the market.
Among the top performers, Omatek Ventures gained 10 per cent to close at N1.65 per share. Ikeja Hotel followed with a 9.95 per cent rise to N42.55, while Sovereign Trust Insurance advanced 9.94 per cent to N1.88 per share.
The August performance reinforces the positive momentum in Nigerian equities, as investors continue to position for opportunities across key sectors of the market.
