• Thursday, March 28, 2024
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Stocks gain N395bn in week ended December 9

Stock market opens year 2024 on a positive note

In the trading week ended Friday December 9, Nigeria’s equities investors booked about N395billion gain amid four days of positives as against a day of negative close.

Stocks like BUA Cement, Lafarge Africa and others helped fuel last trading day’s rally.

The mixed trading sessions which tilted in favour of the bulls pushed higher the month-to-date (MtD) return to 2.56percent.

Read also: NGX CEO elected ASEA executive committee member

Nigerian Exchange Limited (NGX) All-Share Index (ASI) and its Market Capitalisation increased by 1.51percent to close at 48,881.93 points and N26.624trillion as against preceding weekend’s lows of 48,154.65 points and N26.229trillion respectively.

Except NGX banking index (0.25percent), all other sectoral indices closed the review week in green led by NGX Industrial Index (+8.53percent). NGX Consumer Goods also rose by 1.65percent, NGX Insurance (+1.31percent), and NGX Oil & Gas Index (+0.29percent).

Year-to-date (YtD), the stock market has increased by 14.43 percent.