The Nigeria Exchange Group Limited (NGX) started 2021 on a good note as the last trading day of 2020 earned the local bourse a warm ovation by reflecting over 50% growth year–to–date.
Although the NGX began the year with an air of optimism, its performance has been beset by a number of macroeconomic factors that have influenced the investment decisions of retail and institutional investors and affected local and foreign direct investments.
In the first half of the year 2021, the All-Share Index (ASI) of Nigeria’s stock market declined by 7.87% from 41,147.39 to 37,907.28 points.
Despite the negative movement, 54 of the 168 companies listed on the exchange appreciated with the top 10 stocks gaining no less than 61% year-to-date. It is worthy of note that most of the stocks on the list of the best-performing stocks are insurance companies and none are banks.
Insurance Stocks Defy Bearish Trading at Stock Market
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All-Share Index Falls 1 7% as Demutualisation Fails to Lift Market
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