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Investors in the Nigerian stock market reaped over N1.15 trillion in September 2024, despite the economic challenges facing the country. The market capitalization rose to N56.635 trillion, up from N55.477 trillion in August 2024, while the NGX All Share Index (ASI) increased by 2.05%, closing at 98,558.79 points.
Sectorial indices also performed well, with the NGX Premium Index growing by 4.5%, the Banking Index up by 10.2%, and the Pension Index rising by 5.95%. The total volume traded surged by 134.1%, reaching 1.86 billion units valued at N111.58 billion.
Analysts credited the gains to investors recognizing undervalued stocks and increased foreign participation due to improvements in the foreign exchange market.