This week on “Follow the Money,” Ugodre provided insights into the exceptional performance of Nigerian stocks, which have established themselves as the benchmark for investment. With no other investment avenue yet to outperform the stock market, investors continue to flock to Nigerian equities.
The NGX witnessed a significant rise of 3.71%, closing at an impressive 105,000 points, while the market capitalization inches closer to the 60 trillion mark. Stocks have surged by 40.5% in the All-Share Index (ASI), with the NGX30 index up by 40% and the Premium Index by 45%. Furthermore, the Pension Index recorded a notable increase of 20%, while the Insurance Index stands at 12%.
Recommended reading: Nigerian Stocks surge 6.54% in first week of 2024
In addition, Guaranty Trust Holding Company (GTCO) saw over 90 million shares traded last week, indicating robust market activity. The company is eyeing an equity raise of over 500 billion naira, with its share price currently at 48 naira per share.
Stay tuned to “Follow the Money” with Ugodre for further analysis and discussions on these market trends and more.
