Investors have recorded a humongous gain in equities listed on the Nigerian Exchange Group between January and October 2023. This was as a result of the significant appreciation in market capitalisation of listed equities from N27.92 trillion on the last trading day of 2022 to N38.04 trillion on the last trading day in October 2023.
This amounted to an average increase of a trillion naira monthly during the period. The All-Share Index (ASI) rose from 51,251.06 points to 69,236.19 points during the same period, representing a gain of 17,985.13 points during the period, or a market return of 35.1 percent.
Apart from ASI, other sectoral indices had good outings from January to October this year. NGX AFR Div Yield raced to 114.2 percent return within the first ten months of this year. It was followed by the NGX Oil/Gas Index which appreciated by 102.3 percent. This is not unconnected with the rising crude oil prices at the international market, initially caused by the Russia-Ukraine conflict and later bolstered by the supply cuts implemented by the OPEC+.
NGX Consumer Goods Index appreciated by 95.1 percent during the reference period. Other indices with two digits returns are MERI Value Index, 84.7 percent; MERI Growth Index, 82.9 percent; AFRI Bank Value Index, 77.4 percent; Banking Index, 71.6 percent; Pension Index, 65.6 percent; Insurance Index, 59.7 percent; Growth Index, 54.7 percent; Corporate Governance (CG) Index, 49.9 percent, and Premium Index, 41.1 percent.
Others are NGX 30 Index, 38.2 percent; Main Board Index, 38.1 percent; Lotus II Index, 35.5 percent, and Index Goods Index, 18.1 percent.
On the flipside, we have AseM Index and Sovereign Index that closed in the negative territory during the period. Their negative returns are 0.1 and 4.5 percent respectively.
