Stock Market Ends January With N1.13trn Gain

Whatsapp News

Trading activities on floor of Nigerian stock finished month of January impressive emerge best performing exchange Africa.

Available data revealed activities on Nigerian Stock Exchange which opened trading year at N21.06tn capitalisation and 40,270.72 index at the beginning of trading on January 4, 2021 closed the month at N22.19tn and 42,412 index points, hence earned a year date gain of about N1.13tn or 5.3 per cent year date.

According Bloomberg , the index kept a clean sheet all week, up +58bps on Friday, and +3.44 per cent w/w.

Equities ended the month +5.32 per cent firmer. In USD terms (+7.10 per cent), the ranked 7th, according to Bloomberg World Equities Index ranking.

Oil and gas stocks finally halted the weeklong losing streak to finish higher, +0.63 per cent – Ardova +8.57 per cent and Oando +2.50 per cent providing support. All sectors also finished in green, save for industrials, with a marginal decline of -8bps.

Turnover last week stayed impressive, with a daily average of $14.53mn.

On Friday, investors traded a total of $17.18m. Zenith retained the spot on the activity chart with $3.20m traded.

notable volumes were MTN $2.47m; GTB $1.84m and Wapco $1.56m. Trading skewed mostly towards domestic investors.

Meanwhile, the All-Share Index and capitalisation both appreciated by 3.442 per cent to close last week at 42,412.66 and N22.18tn respectively.

Similarly, all indices finished higher with the exception of Oil/Gas which depreciated by 7.25 per cent while the ASeM and Growth Indices closed flat

A total turnover of 2.57bn worth N27.88bn in 31,466 deals were traded last week by investors on the floor of the exchange, in contrast to a total of 4.29bn valued at N25.99bn exchanged hands the previous week in 32,849 deals.