Stock market jumps by 5.49% in week ended June 16

In the trading week ended Friday June 16, the Nigerian Exchange Limited (NGX) All-Share Index (ASI) and Market Capitalisation appreciated by 5.49percent to close at 59,000.96 and N32.126 trillion respectively.

The holiday-shortened trading week recorded two days of gains as against two days of losses.

“Market yearns for its next positive driver, as investors continue to mull over the latest inflation data from the NBS,” said analysts at Lagos-based Vetiva.

They expect mixed trading sessions in a new week, “with likely decline in the average traded volume for the week”.

In the review trading week, all other indices finished higher with the exception of NGX Industrial Goods and NGX Growth which depreciated by 1.63percent and 1.07percent respectively while the NGX ASeM
index closed flat.

Seventy-seven equities appreciated in price during the review week higher than 52 equities in the preceding week.

Twenty-four equities depreciated in price lower than 27 in the preceding week, while 55 equities remained unchanged, lower than 77 recorded in the preceeding trading week.