Stocks gain N138bn in week ended Jan. 28

The value of Nigeria’s listed equities increased by N138billion in the trading week ended Friday, January 28 amid mixed trading sessions as some investors traded cautiously while the value hunters cherry-picked attractive counters across board.

Despite the market’s negative start to the review week, it still recorded three (3) days of gains as against two (2) days of losses which helped it close out the week on a positive note by 0.54percent.

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The positives recorded in the review week which saw influx of full year 2021 financial scorecards of many corporates helped push the equities market’s positive return year-to-date (ytd) to +8.17percent.

At the close of the week’s trading session on Friday, January 28, the Nigerian Exchange Limited (NGX) All-Share Index (ASI) rose from week-open low of 45,957.35 points to 46,205.05 points, while the value of listed stocks on the Nigerian Bourse increased from week-open low of N24.760trillion to N24.898trillion.

NGX Banking Index rose by 4.84percent; and NGX Consumer Goods Index (+2.04percent); NGX Insurance Index (-3.12percent); NGX Industrial (-5.12percent), and NGX Oil & Gas (+3.53percent).