Nigeria’s stock market increased by 0.73percent in the trading week ended Friday September 2 as buy-side activities strengthened across key sectors on the Bourse.

Though, the record positive was driven among others by impressive rally in consumer goods, industrial and banking stocks.

In the review trading week, the market recorded three (3) days of positive closes as against two (2) days of losses.

As a result, investors gained about N197billion while the market’s positive return year-to-date (YtD) increased to 17.16 percent.

Month-to-date (MtD) the market has advanced by 0.42 percent. The month started off positive, despite earlier drawback seen in market sentiment.

Related News

Read also: Domestic investors beat foreigners in Nigeria’s N1.66trn H1 equities deal

The market’s All-Share Index (ASI) and capitalisation rose to 50,045.83 points and N26.993trillion respectively in week ended Friday September 2 as against preceding weekend when both indicators stood at 49,682.15 points and N26.796trillion respectively.

The NGX-30 index which measures the performance of thirty most capitalised stocks on Exchange increased by 0.69 percent in the review trading week; while NGX Consumer Goods Index rose most by 2.01 percent.

Others are: NGX Industrial Index (+1.36percent); NGX Banking Index (+1.21 percent); NGX Oil and Gas Index (+0.65); and NGX Insurance Index (+0.05percent).

More from our Markets Column
Read Next
Thirteen stocks that made investors richer by over 250%

Lafarge, NGX Group top laggards as market opens week on negative note

By Iheanyi Nwachukwu • September 5, 2022

Iheanyi Nwachukwu, is a creative content writer with almost two decades journalism experience writing on banking, finance, capital markets, and tax. The multiple awards winning journalist is Assistant Editor, BusinessDay. Iheanyi holds BSc Degree in Economics from Imo State University; Master of Science (MSc) Degree in Management from University of Lagos. Iheanyi has attended several work-related trainings including (i) Advanced Writing and Reporting Skills (Pan African University, Lagos); (ii) News Agency Journalism (Indian Institute of Mass Communication {IIMC}, New Delhi, India); and (iii) Capital Markets Development and Regulations (International Law Institute {ILI} of Georgetown University, Washington DC, USA). Other trainings Iheanyi attended include: Economic/Political Risk Analysis (By Thomson Reuters Foundation); International Financial Journalism (IFJ) (By PMA Media Training, UK); Effective Business Writing Skills (By Phillips Consulting); Reporting on Corporate Governance (By International Finance Corporation (IFC) & Thomson Reuters Foundation UK); etc. In addition, he has participated in high-level economy & markets events in Dubai, South Africa, Morocco, and other African countries like Zambia, Ghana and Gambia.

Join BusinessDay whatsapp Channel, to stay up to date

Open In Whatsapp