NGX All Share Index crosses 100,000 points in week ended June 28

The Nigerian Exchange Limited (NGX) All Share Index (ASI) surpassed 100,000 psychological points as stock buyers resumed activities on the Bourse.

Stock market recorded three days of positive sessions as against two days of negative closes in the trading week ended Friday June 28.

The market had before now seen muted activities as investors took to ‘wait-and-see’ approach in early trading during the review.

Oil & gas, insurance and bank stocks helped the market’s positive close in the review week despite profit taking in consumer goods and industrial stocks.

As bargain hunting sentiment dictated activity in the later part of the review trading week, investors booked about N178billion gain as they continued to favour fundamentally sound stocks.

Week-on-week (WoW), the NGX ASI and Market Capitalisation rose by 0.32 percent from preceding week’s lows of N99,743.05 points and N56.423trillion respectively to 100,057.49 points and N56.601trillion.

Equities market’s year-to-date (YtD) return stood further in the positive territory at 33.81 percent.