NGX HITS 245,573 WEEKLY HIGH AS BANKING STOCKS RALLY

The Nigerian Exchange Limited (NGX) closed the week on a stronger note, with the benchmark NGX All-Share Index rising to 245,573 points, supported largely by gains recorded in banking stocks.

The improvement reflects renewed buying interest in major financial institutions as investors responded to developments across the banking sector and broader market conditions.

Banking stocks have remained a major driver of activity on the Nigerian equities market, with investors closely watching earnings, recapitalisation plans, and other developments affecting financial institutions.

Market analysts said the latest rally demonstrates continued investor interest in fundamentally strong companies, although they cautioned that market movements could remain sensitive to economic indicators, interest rates, inflation, and foreign exchange developments.

The rise in the All-Share Index also lifted overall market capitalisation, strengthening the value of listed equities traded on the exchange.

The performance comes amid continued efforts by investors to identify opportunities in sectors with strong earnings prospects and growth potential.

Analysts said sustained gains would depend on improved economic conditions, stronger corporate performance, and continued investor confidence.

They added that the banking sector could remain an important market catalyst as investors assess the impact of ongoing reforms and capital-raising exercises across the industry.

The NGX is expected to remain closely watched in the coming sessions as investors reposition their portfolios and respond to new corporate and economic developments.