Local stock market begins year 2022 on positive note, adds 2.7 per cent


At the Nigerian Exchange Limited (NGX), the dominance of the bulls ensured to kick off the first trading week of 2022 on a strong footing, as the benchmark index recorded gains in all trading sessions this week.

Precisely, the All-Share Index advanced by 2.7 per week-on-week to close at 43,854.42 basis points.

During the week foreign investors’ demand for Airtel Africa and bargain hunting in BUA Foods, WAPCO and FBN Holdings stocks spurred the weekly gain.

Accordingly, the YTD return printed +2.7 per cent.

The market capitalisation appreciated by 5.97 per cent, having added N1.33 trillion to close the week at N23.628 trillion as against the year-end close of N22.297 trillion.

Source: Nigerian Tribune