Nigeria’s equities market began September on a positive note, with the NGX All-Share Index (ASI) gaining 2.36 percent in the first trading week of the month. The record increase was supported by stronger trading activity and improved market breadth.
The benchmark index closed the week ended Friday, September 4 at 246,992.44 points, up from 241,298.47 points the previous week, while equities market capitalisation rose 2.40 percent to N159.559 trillion. The performance lifted the market’s year-to-date (YtD) return to 58.72 percent.
Performance was positive across most market indices. The NGX Oil and Gas Index led with a 9.10 percent weekly gain, while the Commodity, Insurance, Premium and Banking indices rose 5.99 percent, 3.85 percent, 3.73 percent and 3.58 percent, respectively. The Industrial Goods Index and Sovereign Bond Index were the exceptions, declining 0.35 percent and 0.36 percent.
The first trading week of September therefore built on the market’s positive close to
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