Do you know that the Nigerian stock market appreciated in November by 39.9%, despite the high inflation rate in the nation.
The market capitalisation ended the month of November at ₦39.052 trillion.
You see, even though investors were very cautious, trading activities was positive on the Nigerian Stock Exchange (NGX).
In the period, traded volume and value increased by 4.9% Week on Week (WoW) and 70.5% WoW respectively.
Airtel Africa Plc, DangCem, MTN, BUA, Seplat Energy Plc, Zenith Bank Plc, Guaranty Trust Holdings Company Plc and other companies contributed to the trade growth.
The market capitalisation rose from ₦38,038 trillion at the end of October 2023 to close November at ₦39.051 trillion.
Have You Read: NGX: Stock Market Rebounds ₦133 Market Capitalisation After Loss
A Week-on-Week analysis, showed that the stock market gained 0.3% as represented by the NGX All Share Index, ASI which surged to 71,419.87points from 71,230.48 points the previous week.
The sectoral performance was mixed, following gains in the Banking Index which rose by 1.9% and Oil and Gas Index 6.0%.
While the Insurance Index declined by 2.0%, Industrial Goods Index dropped by 1.2% and Consumer Goods Index 0.5%.
