The bullish run continues as the Nigerian Exchange Limited is experiencing a positive trend following the Santa Claus rally in late December. Following the close of Thursday's trading session at the NGX, investors gained N265 billion.
On Wednesday, investors gained N847 billion at the close of the trading session, while Tuesday finished with N666 billion.
The All-Share Index increased slightly by 0.62%, the same as the exchange's market capitalisation.
Yesterday’s was the lowest percentage seen since the market opened in 2024. In the first trading session, which was on Tuesday, the market capitalisation and ASI rose by 1.62%, and the second trading session, which was on Wednesday, recorded a 2.03% increase.
Investors' gain also declined to N265bn from N846bn on Wednesday. The Santa era will close soon.
Following some analysis from market experts, it has been projected that the market will maintain a bullish tone as it prepares for the earnings season.
At the close of Thursday's trading, market capitalisation and the All-Share Index stood at N42.694tn and 78,020.54 points, respectively.
Major market drivers were the stocks of AccessCorp, United Bank for Africa, Zenith Bank, Fidelity Bank, and FCMB. There has been increased activity in banking stocks on the local bourse, driven by investors positioning for dividends and capital appreciations and the planned recapitalisation exercise in the sector.
Read more: https://www.investingport.com/equit...in-n265-billion-as-the-bullish-run-continues/