Nigerian Stock Market Surges 1.72% in September, Led by Insurance Index's 57.65% Gain
The Nigerian stock market today concluded September on a positive note, with the All-Share Index (ASI) surging by 1.72%. This performance was driven by robust gains in various sectors, including the NGX Insurance Index, which led the quarter with a remarkable 57.65% increase.
The ASI advanced significantly in the third quarter, rising by 18.95%. This was the strongest quarterly performance recorded so far this year. The index closed the month at 142,710.5 points, up from its opening point of 140,295.5 points. On a year-to-date basis, the ASI stands 38.65% higher.
The NGX Consumer Goods Index also performed well, rising by 27.89% quarter-to-date. The NGX Industrial Goods sector posted an impressive 39.32% gain during the same period. The NGX Oil & Gas Index rose by 3.51%, while the NGX Banking Index posted an 18.25% gain in Q3. Notably, the NGX Insurance Index topped the quarter, with a substantial 57.65% increase.
The Nigerian stock market's strong performance in the third quarter was marked by broad-based gains across various sectors. The market traded 13.6 billion shares in September, reflecting increased investor activity. As the market continues to recover, investors will be keen to monitor the performance of these sectors in the coming months.
Read also:
- Exploring Harry Potter's Lineage: Decoding the Enigma of His Half-Blood Ancestry
- Elon Musk Acquires 26,400 Megawatt Gas Turbines for Powering His AI Project, Overlooks Necessary Permits for Operation!
- Ontario terminates $100M Starlink agreement due to U.S. import taxes
- Predictive modeling introduced in DP World's automotive supply chain operations
