NGX Market Cap Rises N187bn As Buying Interest Lifts Index

Buying interest in selected equities lifted the Nigerian Exchange (NGX) market capitalisation by N187 billion week-on-week, despite broad-based weakness across the market.
The benchmark NGX All-Share Index (ASI) gained 0.12 per cent to close the week at 245,573.60 points, while market capitalisation rose from the previous level to N158.513 trillion.
The modest gain also pushed the market’s year-to-date return to 57.81 per cent, reflecting the continued strong performance of Nigerian equities despite recent profit-taking and mixed sectoral performance.
However, the positive movement in the benchmark index masked a broadly weak market, as declining stocks significantly outnumbered gai...