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NGX ASI hits 15-year high of  66,490.34 

The All-Share Index of the Nigerian Exchange Limited rose to 66,490.34 basis points at the close of trading on Tuesday, breaking a 15-year record.

The ASI rose by 0.51 per cent to 66,490.34 points from 66,151.38 on Monday, surpassing the highest value of 66,371.20 recorded on the Exchange on March 5, 2008.

The milestone is in part attributed to a surge in buy interests in banking stocks as investors positioned themselves, taking advantage of the recent record earnings posted by banks.

Similarly, the market capitalisation also increased by 0.51 per cent to close at N39.69tn from N36.21tn recorded on Monday.

In two days of trading this week, investors have gained N510bn (N325bn on Monday and N185bn on Tuesday.)

Across sectoral indices, the NGX Banking Index experienced the most significant daily gain, rising by 1.63 per cent. Following closely were the NGX Consumer Goods Index, with a 0.99 per cent increase, and the NGX Industrial Index, which saw a 0.21 per cent uptick. Conversely, the NGX Oil/Gas Index dipped by 0.09 per cent, and the NGX Insurance Index recorded a substantial decline of 1.56 per cent, both attributable to investors reallocating their funds.

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