The Nigerian Stock Exchange, NSE, has recorded moderate growth in the first trading week of the year 2018, bringing a rise in the week-on-week (w-o-w) and Year-to-date (YTD) rise of the twin benchmark indices of the bourse.
The NSE All Share Index and market capitalisation leaped by 1.78% each to close at 38,923.26 points and N13.85 trillion respectively.
Likewise, all sectorial gauges closed in the green territory as investors’ sentiments stayed positive at the start of the New Year: NSE Banking index, NSE Insurance index, NSE Consumer Goods Index, NSE Oil/Gas Index and NSE Industrial Index strengthened by 632bps, 466bps, 147bps, 95bps and 349bps to close at 505.51points, 145.87points, 990.47points , 333.84points and 2044.53points respectively.
Also in the week under review, FGN bond prices traded at the over-the-counter (OTC) segment appreciated for all the maturities as the bulls dominated the market.
In the forex market, the Naira strengthened against the U.S. dollar at the parallel (‘black’) market segment week-on-week (w-o-w) by 0.27% to N363/USD. However, local currency depreciated at the Investors & Exporters Forex Window (I&E FXW) by 0.27% to N361.31/USD, despite the increased foreign exchange reserve by USD227million to USD 38.3billion in the week.
