Stocks on the Nigerian Exchange Group (NGX) last week had no clear direction as key performance indicators fluctuated throughout the week. However, the All Share Index (ASI) recorded a marginal gain, which showed a level of resilience in key sectors of the country’s economy, news.ng reports.
According to data, the ASI improved by 161.00 points (0.08%) to close at 196,968.15. Daily gains on the NGX extended its one-week gain to 2.15%.
Performance in the medium term was impressive as the index recorded a 14.7% weekly gain, while the Year-To-Date (YTD) performance increased by 26.58%.
On the NGX Industrial Index, market observers witnessed a 1.2% rise last Friday. Every week, the index recorded a 3.89% increase, culminating in a 33.87% gain YTD. The performance of the industrial index showed continued investor confidence among key players in the industrial sector.
Also, there was a noticeable surge in the NGX Oil & Gas Index—one of the best-performing segments last week—as trading rose by 0.19%. Every week, activities surged by 9.43%, while the YTD gain stood at 66.41%.
Another key sector that caught the attention of market observers last week was the NGX Pension Index, as stocks rose by 0.24%, with a 2.68% weekly gain, extending to a 35.65% improvement YTD.
More importantly, on the NGX Main Board Index, observers witnessed a 0.22% increase. The weekly gain stood at 2%, while the YTD performance was 18.06%, maintaining steady investor appetite for equities listed on the index.
Furthermore, the NGX Top 30 Index (most capitalised listed companies) was unchanged at the end of the trading week, with a 2.3% weekly gain and a 25.67% Year-To-Date gain.
On the other hand, the NGX Premium Index (high-value stocks) performed below expectations last week as activity declined by 0.11%. However, the index still recorded a 2.7% weekly gain and an improved 42.33% gain YTD, again showing the solid confidence investors have in these companies.
Above all, despite the lack of direction across virtually all the indices last week, the NGX remains bullish, with investors taking positions across key segments, including industrial, oil and gas, and pension stocks.
