Despite mixed trading sessions, investors in Nigeria’s stock market still booked about N646billion gain in the trading week ended Friday November 12, 2021.
The performance indicators – the Nigerian Exchange Limited (NGX) All Share Index (ASI) and equities market capitalisation –which had opened the review trading week at 42,014.50 points and N21.926 trillion respectively closed the week at new highs of 43,253.01 points and N22.572trillion.
The stock market advanced by 2.95 percent week-on-week (WoW). The positive returns stood at +7.41 percent.
Aside NGX Consumer Goods Index which increased by 0.63percent in the review trading week, all others sectoral Indices recorded decline.
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NGX Banking Index (-1.31percent), NGX Industrial Index (-0.01percent), NGX Insurance Index (-2.25percent), and NGX Oil & Gas Index (-0.69percent).
“In comparison to the prior week, turnover improved by 69percent due to increased activity in some of the large/mid cap names like MTNN, Airtel Africa and Flour Mills, with overall sentiment still largely bearish,” said Lagos-based research analysts at Vetiva Securities.
The analysts anticipate this tepid sentiment to persist “as there are no major catalysts to spur activity”.
