The Nigerian Stock Exchange (NGX) sustained its bullish momentum on Thursday, marking the 10th consecutive day of gains, as investors recorded a total profit of N308 billion.
Trading activity saw the market capitalisation rise from N92.490 trillion at opening to N92.798 trillion by the close, reflecting a 0.33 per cent increase. Similarly, the All-Share Index (ASI) appreciated by 0.33 per cent, gaining 485.25 points to settle at 146,204.34, up from 145,719.09 recorded on Wednesday.
The continued upward trend highlights investor confidence in the equities market, driven by positive sentiment across key sectors. Analysts attribute the rally to strong corporate earnings reports, increased liquidity, and renewed optimism in the Nigerian economy.
This extended run of gains is particularly significant for local investors, with major blue-chip stocks leading the charge and contributing substantially to the market’s overall growth.
Market observers note that the sustained uptrend may encourage foreign investment inflows, as stability and profitability attract global investors seeking exposure to Nigeria’s capital markets.
Despite challenges such as inflationary pressures and global economic uncertainties, the NGX has shown resilience, demonstrating the potential for sustained growth in the country’s equities market.
As trading continues, investors are advised to remain cautious, focusing on diversified portfolios and long-term investment strategies to capitalize on the market’s positive trajectory while mitigating potential risks.
