The Nigerian Exchange Limited saw a significant rebound, with market capitalization rising by 0.15% to N65.59 trillion and the All Share Index increasing by 0.15% to 104,376.73 points. This comes after a previous loss of N658.23 billion, which was triggered by uncertainty in the global economy.
The market’s reversal is a positive sign for investors, who had been concerned about the impact of global economic trends on the Nigerian market. The rebound is attributed to a mix of factors, including improved investor sentiment and a rise in oil prices.
The top gainers for the day included Secure Electronic Technology, which rose by 8.89%, Abbey Mortgage Bank, which gained 8.35%, and Sterling Financial Holding Company, which increased by 6.85%. On the other hand, UH Real Estate Investment Trust declined by 9.95%, NAHCO shed 9.94%, and NEM Insurance dropped by 9.92%.
FCMB recorded a profit before tax of N111.9 billion in 2024, while United Capital declared a dividend of N9 billion. These developments are seen as positive signs for the banking sector, which has been under pressure in recent times.
The US tariff of 14% on Nigerian non-oil exports could threaten N323.96 billion worth of goods. This has raised concerns about the potential impact on the Nigerian economy and the global trade war.
The market’s rebound is a positive sign for investors, and the market’s performance is expected to continue improving in the coming days. However, the impact of global economic trends and the US tariff on Nigerian exports remains a concern.
Industry experts believe that the market’s rebound is a positive sign for investors and that the market’s performance is expected to continue improving in the coming days. However, they also caution that the impact of global economic trends and the US tariff on Nigerian exports remains a concern.
The Nigerian Exchange Limited’s rebound is a positive sign for investors, and the market’s performance is expected to continue improving in the coming days. However, the impact of global economic trends and the US tariff on Nigerian exports remains a concern.