The Nigerian Exchange closed the first week of June on a bullish note, adding N1.81tn to investors’ wealth despite a shortened trading week due to the Eid-el-Kabir public holidays.
The All-Share Index rose by 2.57 per cent to settle at 114,616.75 index points, while the market capitalisation appreciated to N72.275 tn from N70.465 tn recorded in the previous week.
Analysts say the market’s resilience is largely driven by bargain hunting in fundamentally sound stocks and renewed investor confidence as the second half of the year kicks off.
The equities market recorded a total turnover of 3.214 billion shares worth N76.348bn in 64,156 deals, lower than the 3.794 billion shares valued at N119.394bn exchanged in 89,636 deals in the preceding week.
NIGERIAN EXCHANGE SURGES BY N1.81TN DESPITE HOLIDAY
