The equities market has recorded an appreciation of 33.02 per cent this year as major indicators continue to record impressive performance.
Specifically, the NSE All-Share Index, which opened the year at 28,078.81 basis points, rose by 33.02 per cent to close last Friday at 37,350.53 points.
Similarly, the market capitalisation recorded an increase of N2.96tn or 33.03 per cent from N8.974tn at the beginning of the year to N11.939tn on Friday.
The NSE-30 Index, which measures the performance of the 30 top performing stocks, also gained 34.06 per cent this year alone to close at 1,791.10 basis points as at Friday.
The NSE Banking Index, which measures the performance of the top 10 stocks in the banking sector, recorded a 28.45 per cent gain to 436.24 points.
Trading activities at the end of last week showed that the NSE All-Share Index appreciated by 1.20 per cent to close on Friday at 37,350.53 points, while the market capitalisation of the listed equities on the mainboard advanced by 1.20 per cent to close at N11.939tn.
The Index and NSE-30 Indices appreciated by 2.49 per cent and 2.47 per cent, respectively the preceding week.
Analysts from Vetiva Capital Management Limited said in their report that even though the bourse opened the week on a negative note, it had gained a weekly return of 1.20 per cent, bringing the year-to-date gain to 33.02 per cent.
They said, "Despite the absence of a strong catalyst and our calls for cautious trading, market sentiments have remained strong, though investor demand appears to be waning judging from the weakness in volume and value traded.
"However, the renewed interest in the financial services sector, and cement giant, Dangote Cement Plc, points to some upside in the week ahead."
On their own part, analysts from Meristem Nigeria Limited said that despite the fact that there were two days of downward trading last week, activities picked up on the remaining days of the week.
