Nigeria’s equities market value rose remarkably by N966billion in the four-day trading week ended Friday April 25.
Analysts see the first-quarter (Q1) earnings season providing catalyst for continued investor engagement, with strong corporate performances driving buy-side interest from stock investors.
Specifically, consumer goods, banking and insurance stocks pushed the market higher in the week under review while industrial and oil & gas stocks were majorly sold.
Read also: Legend Internet listing boosts NGX market capitalisation by N11.28bn
In the review week, the market recorded three days of positive closes as against one day of negative. The market rose by 1.46 percent in the week under review while this year’s return rose to +2.75 percent.
The market opened for four trading days in the review week as the Federal Government of Nigeria declared Monday April 21 as public holidays to commemorate 2025 easter celebration.
The Nigerian Exchange Limited (NGX) All-Share Index (ASI) and equities market capitalisation increased from preceding week’s close of 104,233.81 points and N65.499 trillion respectively to 105,752.61 points and N66.465 trillion.
Also in the review week, Legend Internet Plc, Nigeria’s leading last-mile fiber-to-the-home (FTTH) broadband provider listed 2 billion ordinary shares at N5.64 per share by way of introduction on the Main Board of Nigerian Exchange Limited (NGX).
Legend Internet listed 2 billion ordinary shares through a “Listing by Introduction.” This development marks a significant milestone for Nigeria’s tech sector and represents a major leap forward for the country’s broadband ecosystem.
Read also: NGX rallies further by 0.73% as investors buy Nestle, Lafarge, others
The listing by introduction of Legend Internet Plc added N11.28 billion to the Nigerian Exchange’s (NGX) market capitalisation. The stock, initially listed at N5.64 closed at N6.82 as at Friday April 25.
