The Nigerian capital market closed Tuesday’s trading, with the All-Share Index (ASI) of the Nigerian Exchange Limited (NGX) soaring to an unprecedented 66,490.34 points.
The index had risen by 0.51% from 66,151.38 the previous day, breaking the 15-year record of 66,371.20 set on March 5, 2008.
The market’s landmark achievement was largely credited to a surge in banking stocks, as investors sought to capitalize on recent record earnings announced by financial institutions.
Market capitalization also saw a remarkable increase, closing at N39.69 trillion up by 0.51% from N36.21 trillion on Monday.
Drug abuse: How to protect Nigeria’s future
Court stops Abbott Group of companies from importing HIV test kit into Nigeria
Since the inauguration of the Tinubu administration in May, the Nigerian stock market has been on an upward trajectory, registering impressive gains of 6.4% in June and 9.4% in July 2023. As of the end of July, the Year-to-Date (YTD) performance stood at 25.53%.
Join Daily Trust WhatsApp Community For Quick Access To News and Happenings Around You.
