Stock market value rises by N1.33trn in first week of 2022

Nigeria’s stock market rose by 2.66 percent or about N1.33trillion in the first trading week of the year 2022, thanks to newly listed BUA Foods Plc and record positive sentiments which fuelled gains in large cap names like Airtel Africa Plc and Nestle Nigeria Plc.

In the review trading week, the Nigerian Exchange Limited (NGX) listed by introduction
18billion shares of BUA Foods.

The listing by introduction of BUA Foods Plc on the Main Board of The Exchange last Wednesday added N720billion to the market capitalisation of NGX, further boosting liquidity in the Nigerian capital market and providing opportunities for wealth creation.

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As at the close of trading session on Friday January 7, the Nigerian Exchange Limited (NGX) All-Share Index (ASI) rose to 43,854.42 points as against week-open low of 42, 716.44 points, while the value of listed stocks on the Nigerian Bourse increased from week-open low of N22.296trillion to N23.627trillion.

Except NGX Consumer Goods Index (-0.87percent) and NGX Insurance Index (-0.93 percent), other key sectoral indices closed the review week in green. NGX Banking Index increased by 0.78 percent; NGX Industrial Index (+0.34 percent); and NGX Oil & Gas Index (+2.68percent).