Investors Gain N1.43trn From Stocks In 1 Week

Investors in listed stocks on the Nigerian Exchange Limited gained about N1.43 trillion in the trading week ended June 27.

Investors hunted for value stocks across all sectors except oil and gas which saw major profit-taking activities.

The NGX Banking Index increased by +2.59 per cent, NGX Consumer Goods Index (+3.73 per cent), NGX Industrial Good Index (+3.92 per cent), NGX Insurance Index (+3.67 per cent) while NGX Oil & Gas Index decreased by 2.23 per cent.

The market recorded mixed trading sessions in the review week as cautious sentiment lingered. More investors’ appetite for value stocks helped the market to outweigh the sell-side effect of closing in the green zone.

The market’s performance indicator increased by 1.57 per cent, while the market’s return year-to-date (YtD) increased to 16.58 per cent. This month, the stock market has risen by 7.39 per cent.

In the review week, the Nigerian Exchange Limited (NGX) All-Share Index (ASI) and equities market capitalisation increased from 118,138.22 points and N74.534 trillion respectively to 119,995.76 points and N75.962 trillion.