Stocks value hits N80.143trn as industrial, banking counters rally

…NGX-ASI up 0.43%, YtD return rises to +23.09%

Industrial and banking stocks contributed majorly to the rally by 0.43 percent recorded on the Nigerian Exchange Limited (NGX) as the new week opened. Listed stocks value rose to new high of N80.143trillion on Monday, July 14.

The upbeat sentiment in the market further is an indication of broad-based investor participation and growing confidence in the Nigerian equity market.

The market’s return this year has increased to 23.09 percent. This month, the market has risen by 5.59 percent.

At the close of trading, the Nigerian Exchange Limited (NGX) All-Share Index (ASI) and equities market capitalisation appreciated from preceding day’s lows of 126,149.59 points and N79.803 trillion respectively to 126,689.54 points and N80.143trillion. In 39,431 deals, investors exchanged 1,286,687,678 shares worth N32.204billion. Access Holdings, Japaul Gold, AIICO, UBA, Jaiz Bank were actively traded stocks on Monday.

Iheanyi Nwachukwu

Iheanyi Nwachukwu, is a creative content writer with over 18 years journalism experience writing on banking, finance and capital markets. The multiple awards winning journalist is Assistant Editor, BusinessDay. Iheanyi holds BSc Degree in Economics from Imo State University; Master of Science (MSc) Degree in Management from University of Lagos.
Iheanyi has attended several work-related trainings including (i) Advanced Writing and Reporting Skills (Pan African University, Lagos); (ii) News Agency Journalism (Indian Institute of Mass Communication {IIMC}, New Delhi, India); and (iii) Capital Markets Development and Regulations (International Law Institute {ILI} of Georgetown University, Washington DC, USA).