Business
Here’s How To ‘Bullet-Proof’ Your Portfolio
October 12, 2021
February 5, 2024
For the oil and gas sector, Japaul Gold is beating others with a share price increase of 80.6 percent this year. In the agricultural sector, Presco is the leader in returns with 34.2 percent, while Transcorp is beating other conglomerates with its 77.8 percent price rally this year.
The benchmark indicator – the Nigerian Exchange Limited (NGX) All Share Index (ASI) – increased to 104,421.23 points on Friday from 102,401.88 the previous day while the value of listed stocks rose to N57.16 trillion from N56.04 trillion.
The market rose by 1.97 percent as activities of bargain hunters outweighed that of profit takers. Twenty-seven equities appreciated as against 35 equities in the preceding week. Sixty-four equities depreciated in price, down from 65 in the preceding week, while 64 equities remained unchanged as against 55 in the preceding week.
The stock market’s record year-to-date return rose to 39.65 percent as of Friday.
Nigerian equities kicked off 2024 on a strong note, as the NGX ASI gained 35.3 percent in January. Likewise, the positive performance filtered into our picks for 2024, with our conviction stocks returning 12.6 percent in the same period,” Vetiva research analysts said in their January performance review.