Nigeria stocks gain N44bn in one week

In the mixed trading week ended Friday, November 26, investors in Nigeria’s listed stocks booked about N44billion gain.

The stock market was able to close the week in green as investors on Friday showed remarkable interests in insurance stocks.

All sectoral indices closed the week in red except NGX Insurance Index which increased by 3.56perent.

NGX Banking Index (-0.29percent), NGX Consumer Goods Index (-2percent), NGX Industrial Index (-0.03percent), and NGX Oil & Gas Index (-0.87percent.

Read also: Nigeria’s stock market decreases further by 0.32%

The Nigerian Exchange Limited (NGX) All-Share Index (ASI) and Market Capitalisation which opened the review week at 43,199.27 points and N22.554 trillion respectively increased to 43,308.29 points and N22.598trillion at the close of the week’s trading.

The market advanced by 0.25 percent in one week, pushing the returns seen this month to + 3.02percent, while the equities market’s positive return year-to-date (YtD) stood at +7.54percent at the close of the week’s trading.

While some investors in the review trading week carefully cherry-picked attractive counters, others decided to sell-off stocks to make profits.

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