Equities gain over N570bn in week ended Feb. 4

Investors in Nigeria’s stock market booked about N579billion gain in the trading week ended Friday, February 4.

The market successfully closed out on a positive note, rising by 2.33percent week-on-week (WoW), thanks to increased interest in Oil & Gas, Industrial, Banking and Consumer Goods stocks which helped fuel record buy-side activity on the Nigerian Exchange Limited (NGX).

The record positive in review trading week came amid the market’s three (3) days of gains as against two (2) days of losses. The gain in review trading week fueled an increase in the equities market’s year-to-date (YtD) positive return to +10.68percent.

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At the close of the week’s trading session on Friday, February 4, the Nigerian Exchange Limited (NGX) All-Share Index (ASI) increased from a week-open low of 46,205.05 points to 47,279.92 points.

Also, the value of listed stocks on the Nigerian Bourse increased from a week-open low of N24.898trillion to N25.477trillion.

NGX -30 Index increased by 2.92percent; NGX Banking Index rose by 0.83percent; NGX Consumer Goods Index (-0.81percent); NGX Industrial (+3.41percent), NGX Insurance Index (-1.93percent); and NGX Oil & Gas (+7.69percent).