Last week, trading on the Nigerian Exchange Limited (NGX) closed on a cautious note as observers saw the benchmark index decline slightly, although some performance indicators showed sustained bullish momentum year-to-date (YTD), news.ng reports.
According to market data, the All-Share Index (ASI) declined by 741.03 points (0.38%) to close at 192,826.78. This reflects a one-week loss of about 1.11%; however, the market index recorded a four-week gain of 16.6%, including a year-to-date (YTD) appreciation of 23.91%.
The positive performance in these indicators shows cautious moves by investors taking profits due to recent volatility in key sectors of the market.
For a better understanding of the market’s performance last week, the NGX Top 30 Index declined by 0.45%, recording a one-week loss of 1.23%, while maintaining a YTD gain of 22.84%. This shows continued investor interest in blue-chip companies on the NGX.
Conversely, the NGX Insurance Index emerged as one of the strongest performers at the close of trading last week, gaining 1.52% despite a marginal one-week loss of 0.62%. On a YTD basis, stocks in insurance firms appreciated by 14.34%.
Also, in the NGX Banking Index, share prices rose by 0.79% during the trading session and by 0.71% over the previous week. The sector delivered a 24.82% YTD return due to improved earnings and strong balance sheets.
Another sector that showed resilience last week was the Consumer Goods Index, which gained 0.28% but remained down by 3.47% every week. Market observers noted that the sector has gained 9.93% YTD.
On the Pension Index, the sector gained 0.15% during last Friday’s trading session, recording a 0.13% one-week increase and a significant 32.11% YTD growth—ranking it as one of the best-performing indices this year.
Overall, the NGX Main Board Index rose by 0.12% despite a one-week decline of 0.91%, while on a YTD basis, the index increased by 15.74%.
