NGX makes gain after losing N3.53tn in April

The Nigerian Stock Exchange Limited saw its first weekly gain, following a N3.54 trillion loss in April 2024. 

This is based on NGX data from the previous week. 

Last week, the equity market saw a gain of N812 billion, following six weeks of negative trading as investors sought higher yields in other markets. 

The event ended a bearish run in banking sector equities, which had suffered greatly. All new N1 trillion market capitalization club members withdrew as their market caps shrank. 

In light of this, the benchmark index increased 1.46 per cent weekly to 99,587.25 points, propelled by purchasing mood in a few high-performing stocks and blue-chip businesses with solid fundamentals.

The start of the dividend earnings season and the strong first-quarter financial performance of corporations have caused a 1.46 per cent increase in market capitalization to N56.32 trillion over the last week.

As a result, the market cap’s year-to-date return increased to 33.2%.

Last week’s turnover of shares was 1.941 billion, valued at N32.64 billion, in 35,807 deals. The prior week’s turnover was 1.839 billion, valued at N34.26 billion, in 37,528 deals.

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