Stock investors are N550bn richer in one week
Nigeria’s stock investors booked about N552billion gain in the week ended January 15, 2021. In the review week, the market closed all of the five trading sessions in green zone.
The Nigerian Stock Exchange (NSE) All Share Index (ASI) which had opened the review week at 40,120.22 points increased to 41,176.14 points; while the value of listed equities increased remarkably from N20.978trillion to N21.530trillion.
The market’s year-to-date (YtD) positive return increased to +2.25percent, driven by insurance stocks.
The NSE Insurance Index increased most in the review week by 17.48percent, followed by NSE Oil & Gas Index which moved up by 7.25percent. Trading data for the week shows other sectoral indices– NSE Consumer Goods (+3.11percent), NSE Industrial Index (+2.84percent); and NSE Banking Index (+2.53percent).
“Investors’ sentiment was largely positive during the week, evidenced by the positive sectoral performances, in conjunction with a green close in all of the five weekly trading sessions.
“Though most fundamental indicators point towards an extension of the bullish performance in the following week, however, we believe some of the gainers might witness a bit of declines next week as short term players start to take advantage of recent gains”, according to equity analysts at Vetiva in their January 15 note to investors.