Nigeria’s stock market increased by 1.37percent or N324billion in the trading week ended Friday January 14 amid sessions of profit taking and bargain hunting. Year-to-Date (YtD), the market has increased by 4.07percent.
The record gain in the review trading week was driven by improved buy-side activities in favour of industrial goods, oil & gas, and banking stocks.
NGX Industrial Index increased most by 3.56 percent, followed by NGX Oil & Gas Index (+1.74percent) and NGX Banking Index (+0.75percent), while NGX Consumer Goods Index decreased by 4.35percent, followed by NGX Insurance Index (-1.54percent).
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At the close of the week’s trading session on Friday, the Nigerian Exchange Limited (NGX) All-Share Index (ASI) rose from a week-open low of 43,854.42 points to 44,454.67 points, while the value of listed stocks on the Nigerian Bourse increased from a week-open low of N23.627trillion to N23.951trillion.