Emmanuel Ochayi
In a streak, the Nigerian equity market experienced its ninth consecutive day of gains, propelling the Nigerian Exchange’s market capitalization to N53.97tn.
Investors celebrated N1.56 trillion gain at the close of trading. The All-Share Index maintained its bullish momentum, surging by 2.97% to reach 98,616.97 basis points, inching closer to the 100,000-point milestone.
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Amid this exhilarating surge, market experts are buzzing with optimism.
Andrew Tsaku, the Managing Director/CEO of Kapital Care Securities Ltd, shared his insights, confidently stating, “For the first time in a long time, our listed stocks are having a better and more realistic reflection of their intrinsic values.” Tsaku projected a further climb towards an index of 100,000, emphasizing his lack of concern about the current market posture and expressing anticipation before any potential ‘normalization.’
This extraordinary rally has brought about renewed confidence in the market, with industry experts predicting continued growth, adding a fresh and optimistic perspective to the unfolding success story of the Nigerian Exchange.
