Stocks gain N212bn in week ended December 23

In the trading week ended Friday, December 23, investors in Nigeria’s stock market recorded about N212billion gain as they continued to cherry-pick counters across board.

Though all NGX sectorial indices closed the week in the positive region, banking, consumer goods and oil & gas stocks were more on investors buy list.

Amid four trading days of positives as against a day of flat close, the market rose week-on-week (WoW) by 0.79 percent.

Following increased bargain ahead of Christmas holidays, forty-one (41) equities appreciated in price in the review trading week, higher than 32 equities in the preceding week.

Seventeen (17) equities depreciated in price lower than 28 in the preceding week, while 99 equities remained unchanged, higher than 97 equities recorded in the preceding week.

Also, the positive return seen month-to-date (MtD) increased to 4.29percent as market’s trading sessions favoured the bulls. Year-to-date (YtD), the stock market has risen by 16.36percent.

Nigerian Exchange Limited (NGX) All-Share Index (ASI) and its Market Capitalisation increased from week open low of 49,316.29 points and N26.861trillion respectively to 49,706.09 points and N27.073trillion.