Investor demand boosts equity market, resulting in a N265 billion increase in gains.

The equity market displayed positive momentum yesterday, resulting in a notable increase of N265 billion in investors’ net worth, driven by enthusiastic bargain hunting.

This optimistic trend was primarily fueled by investors’ keen interest in acquiring stocks from Tier-one banks.

The market capitalization witnessed a rise of N265 billion, equivalent to 0.62%, concluding at N42.694 trillion, in contrast to the N42.429 trillion recorded on the previous Wednesday.

Consequently, the All-Share Index, a benchmark for market performance, experienced a growth of 0.62% or 482.97 points, reaching a closing figure of 78,020.54, compared to the previous session’s 77,537.57.

The Year-to-Date (YTD) return climbed to 4.34%.

During the trading session, a total of 984.19 million shares valued at N11.16 billion were exchanged through 12,976 deals.

Market breadth closed positively, indicating that trade turnover settled at a higher level relative to the preceding session.

The improved performance was largely attributed to investors showing heightened interest in Tier-one banks, specifically Zenith Bank, Guaranty Trust Holding Company (GTCO), and Dangote Sugar.