The Stock Market segment of the Nigerian Stock Exchange Group has gained N5.64 trillion in the first half of 2022.
The market capitalisation in H1 2022 appreciated by N5.64 trillion or 25.3 per cent to close at the end of the first half of 2022 at N27.935trillion, from the N22.297 trillion it opened for trading activities on January 4, 2021.
Among the factors responsible for this are improved corporate earnings by companies and low yield in the fixed income market.
The overall market performance, the NGX All-Share Index (ASI), which tracks the general market movement of all listed companies on the Exchange, rose by 21.31 per cent or 9,101.15 basis points to close at 51,817.59 basis points in H1 2022, the highest performance in 14 years, from 42,716.44 basis points it opened for trading.
The stock market in H1 2022 maintained positive momentum with domestic investors raising their stake amid rising inflationary pressure and the challenging business environment.
Stocks that contributed to growth in the market performance included Seplat Energy Plc which appreciated by N650 per share from December 31, 2021, to N1,300 per share as of June 30, 2022, while Airtel Africa gained 81.4 per cent to N1,732.20 per share from N955 per share it opened for trading.
Airtel Africa in the first H1 of 2022 appreciated by N2.9 trillion in terms of market capitalisation to contribute about 23.3 per cent or N6.91trillion to an overall market capitalisation of listed stocks on the NGX.
Also, the overall market performance, the NGX ASI had risen by 9.95 per cent to close at 46,965.48 basis points in the first Q1 of 2022.
Capital market analysts said H1 2022 was positive for the domestic market and urged investors to trade the stock market with caution over political uncertainty.
