Investors in Nigeria’s equities market recorded about N237 billion gain in the trading week that ended Friday, December 16.
Market analysts had in the review week expected a reversal of the preceding week’s positive sentiment in the market.
The analysts had premised their dismal outlook (now defied) on the likelihood of profit-taking activities on stocks that had appreciated in the previous weeks.
Industrial, Banking, Oil & Gas, and Insurance stocks helped push the market higher in the review week despite profit-taking in consumer goods stocks.
Amid four trading days of positives as against a day of negative close, the market rose week-on-week (WoW) by 0.89 percent.
The month-to-date (MtD) positive return rose to 3.48 percent as the market’s mixed trading sessions favoured the bulls. Year-to-date (YtD), the stock market has risen by 15.45 percent.
Nigerian Exchange Limited (NGX) All-Share Index (ASI) and its Market Capitalisation increased from 48,881.93 points and N26.624 trillion respectively to 49,316.29 points and N26.861 trillion.
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Investors in Nigeria’s equities market recorded about N237billion gain in the trading week ended Friday, December 16.
Market analysts had in the review week expected a reversal of the preceding week’s positive sentiment in the market.
The analysts had premised their dismal outlook (now defied) on the likelihood of profit taking activities on stocks that had appreciated in the previous weeks.
Industrial, Banking, Oil & Gas, and Insurance stocks helped push the market higher in the review week despite profit taking in consumer goods stocks.
Amid four trading days of positives as against a day of negative close, the market rose week-on-week (WoW) by 0.89 percent.
The month-to-date (MtD) positive return rose to 3.48percent as market’s mixed trading sessions favoured the bulls. Year-to-date (YtD), the stock market has risen by 15.45percent.
Nigerian Exchange Limited (NGX) All-Share Index (ASI) and its Market Capitalisation increased from 48,881.93 points and N26.624trillion respectively to 49,316.29 points and N26.861trillion.
