The Nigerian stock market gained 39.8 per in the first quarter of 2024, becoming the second best-performing stock amid economic headwinds. This is according to March ending data by NGX. With the feat, NGX became the second best-performing stock after the Zimbabwe Stock Exchange (ZSE) All Share Index, which had about 314.
The Nigerian stock market gained 39.8 per in the first quarter of 2024, becoming the second best-performing stock amid economic headwinds. This is according to March ending data by NGX. With the feat, NGX became the second best-performing stock after the Zimbabwe Stock Exchange All Share Index, which had about 314.19 per cent Year-to-date growth. Specifically, the NGX ASI, an indicator used to measure the performance of listed firms on the exchange, opened the year at 74,773.
In the period under review, the NGX Alternative Securities Market Index gained 135.25 per cent YtD to emerge as the best-performing index, followed by the NGX Industrial Goods Index, which rose by 78.49 per cent YtD to close Q1, 2024 at 4,28441.20 basis points. The NGX Banking and NGX Insurance Index appreciated by 14.76 per cent and 26.20 per cent YTD, respectively. The NGX Consumer Goods Index also rose by 43.66 per cent YtD to close on March 28, 2024, at 1,610.80 basis points.
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