Nigerian equities investors earn N3.02trn in three months

The Nigerian equities market exhibited resilience despite the economic instability in the country as the local bourse appreciated by 9.95 per cent in the first quarter of the year 2022.

The market capitalisation of the Nigerian Exchange Limited (NGX) gained N3.02 trillion, as impressive corporate earnings by some major companies listed on the bourse buoyed investors’ confidence.

At the end of the last trading of the first quarter, March 31, 2022, the market capitalization hit N25.312 trillion, higher than the N22.297 trillion it opened for trading activities on January 4, 2021.

The All-Share Index (ASI) also rose by 9.95 per cent to close at 46,965.48 basis points in the first Q1 of 2022.

The analysis further revealed that the sectoral performance of the NGX was bullish, as most indices closed the first quarter uptick.

The NGX Oil & Gas Index appreciated the most by 28.12 per cent, closely followed by the NGX Banking Index, which recorded a gain of 8.55 per cent, while the NGX Premium Board Index rose by 6.34 per cent.

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Others were the NGX Pension, NGX Industrial Goods, NGX 30, and NGX Lotus II which went up by 6.34 per cent, 5.63 per cent, 5.39 per cent, 4.37 per cent, and 1.18 per cent, respectively.

However, NGX Insurance and NGX Consumer Goods recorded year-to-date decline of 6.35 per cent and 4.21 per cent respectively, as of March 25, 2022.

On a monthly review, the Nigerian bourse witnessed positive price movements leading to a bull run throughout January 2020, during which it closed with a 9.1 per cent month-on-month growth in the benchmark index, and extended the gains by 1.7 per cent in February.

However, the All-Share Index for the month of March was bearish as it lost marginally by 0.91 per cent starting at 47,394.53 basis points to end the month at 46,965.48 basis points. The market capitalization also declined in similar fashion from N25.5 trillion at the beginning of the month only to end the month trading N25.3 trillion, also representing a 0.91 per cent decline.

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Nigerian equities investors earn N3.02trn in three months

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Nigerian equities investors earn N3.02trn in three months

Kehinde Akinseinde-Jayeoba