After a series of declines, Nigeria’s stock market witnessed a positive turnaround on Friday, with investors gaining N91 billion to close the week on a strong note.
The rebound follows days of losses that had dampened market sentiment. Analysts attribute the recovery to renewed investor confidence and bargain hunting in key sectors.
Market data indicates that the All-Share Index (ASI) saw a notable uptick, reflecting improved trading activities across various equities. Blue-chip stocks, particularly in the banking and consumer goods sectors, contributed significantly to the gains.
Experts suggest that the positive performance could signal the beginning of a market correction, provided that macroeconomic indicators remain stable. However, they caution that external factors, including global economic trends and domestic policy decisions, could still influence market movements in the coming weeks.
Investors will be watching closely as the new trading week begins, assessing whether Friday’s rally marks a sustained recovery or a temporary boost.
