NGX breaks record as ASI hits all time high of over 90,000 points


RoI: NGX tasks investors on portfolio diversificationThe Nigeria Exchange Limited, NGX, yesterday, recorded a new high as its All Share Index, ASI, hits 90,063.26 points the highest in the history of the Nigeria stock market.

Though, data from the NGX showed that market capitalisation, which represents the total value of investment on the Exchange did not change from the Tuesday trading; however, investors have gained over N1.823 trillion in the first three days of this week.

Specifically, market capitalization, surged to N48.139 trillion from N45.442 trillion it closed on Friday last week, showing the strong demand and trust of investors with the Year-to-Date, Ytd return rising to 20.45% from 17.65%t the previous day.

However, the share prices of the top five banks in the country, namely First Bank, UBA, GTB, Zenith Bank and Access Bank, fell by 5.79%, 4.27%, 1.8%, 1.42%, and 0.67%, respectively, reflecting the challenging economic environment.

The market report indicated that the share prices of Airtel, MTN,  Seplat and Transcorp Hotel remained unchanged despite the market fluctuations.

The top performers among the 47 stocks that recorded positive returns were Wema Bank, AIICO, SUNU Assurance, , Guinness, and Honeywell Flour, which all appreciated by 10%.

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