• Tuesday, July 16, 2024
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Stocks gain N197bn in week ended September 2

Stock market extends rally by 0.53%

Nigeria’s stock market increased by 0.73percent in the trading week ended Friday September 2 as buy-side activities strengthened across key sectors on the Bourse.

Though, the record positive was driven among others by impressive rally in consumer goods, industrial and banking stocks.

In the review trading week, the market recorded three (3) days of positive closes as against two (2) days of losses.

As a result, investors gained about N197billion while the market’s positive return year-to-date (YtD) increased to 17.16 percent.

Month-to-date (MtD) the market has advanced by 0.42 percent. The month started off positive, despite earlier drawback seen in market sentiment.

Read also: Domestic investors beat foreigners in Nigeria’s N1.66trn H1 equities deal

The market’s All-Share Index (ASI) and capitalisation rose to 50,045.83 points and N26.993trillion respectively in week ended Friday September 2 as against preceding weekend when both indicators stood at 49,682.15 points and N26.796trillion respectively.

The NGX-30 index which measures the performance of thirty most capitalised stocks on Exchange increased by 0.69 percent in the review trading week; while NGX Consumer Goods Index rose most by 2.01 percent.

Others are: NGX Industrial Index (+1.36percent); NGX Banking Index (+1.21 percent); NGX Oil and Gas Index (+0.65); and NGX Insurance Index (+0.05percent).