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Nigeria’s Equities Market Garners N253bn in Week Ended Dec. 17

Nigeria investors to earn over N780bn as companies final dividend for 2021

Nigeria’s stock market gained about N253billion in the trading week ended Friday, December 17.

The market was up by 1.12percent week-on-week (WoW) amid three (3) trading sessions of gains and two (3) sessions of losses.

Consumer goods and industrial stocks were on bargain in the review week, while banking and oil & gas stocks were on offer.

Its benchmark performance indicators –the Nigerian Exchange Limited (NGX) All-Share Index (ASI) and Market Capitalisation –which opened the review week at 41,882.97 points and N21.854 trillion respectively increased to 42,353.31 points and N22.107trillion.

NGX Consumer Goods Index increased by 0.63percent, NGX Industrial Index (+0.38percent), and NGX Insurance Index (+0.04percent).

Read also: Union Bank secures $40mn facility to boost trade finance in Nigeria

NGX Banking Index decreased 1.82percent in the review week, while Oil & Gas Index was down same period by 0.57percent.

The week’s positive close pushed high month-to-date (MtD) positive return to 0.75percent, while year-to-date (YtD), the market’s positive return increased to 5.17percent.

As equity investors prepare for Yuletide season’s trading, market watchers expect them to cherry-pick attractive counters across board from small to large cap names.