The Nigerian All Share Index closed the primary half of 2022 with a acquire of about 21.17% 12 months thus far (YTD) making it one of many best-performing inventory markets on this planet.
World equities markets have needed to abdomen a rout as buyers react to increased rates of interest as central banks prioritize combating inflation over straightforward cash.
In the US, the S&P Index which measures the broader inventory market has fallen by as a lot as 20% this 12 months. Over in Europe, the London FTSE is down by about 3% whereas the German DAX can also be down by a whopping 19.3%. In Africa, the Johannesburg Inventory Alternate is down by 11%, and Ghana is down by about 8%. Kenya is down 16.9% and Egypt of 10% as of June 29, 2022.
Solely only a few international locations have completed higher than Nigeria in response to knowledge from our supply.
As acknowledged, 12 months thus far June 30th, 2022, NGX All Share Index is up 21.17% as of June 30th, 2022, barely down from 21.51% as of Might 31st YTD.
- That is additionally the primary time since 2018 that shares have posted a optimistic return within the first half of the 12 months.
- Regardless of snapping a half-year shedding streak, shares nonetheless posted a loss Month thus far in June shedding, 0.28%.
- In accordance with knowledge from Nairametrics analysis, about 64 shares posted good points within the first half of this 12 months out of a complete of 158 shares on the NMRSIndex (Nairametrics Related Inventory Index). One other 54 posted good points and the remainder remained flat at 0% returns 12 months thus far.
- By way of sector efficiency (wanting on the inventory change knowledge for July 1, 2022), the Oil and Fuel Index has been the perfect performing with a acquire of 57.44% this 12 months.
- Nigeria’s Shopper Good Index can also be up 5.88% whereas the Industrial Good Index gained 7.21% within the first half of the 12 months.
- The Banking and Insurance coverage Index, typically a bellwether for the financial system each misplaced 1.69% and eight.88% respectively.
The highest gainers for the primary half of the 12 months didn’t fully replicate the broader index efficiency and featured most penny shares.
- Within the first half of the 12 months, Meyer Plc, Wema Financial institution, Academy Press, and Unilever all topped the gainer’s chart with over 150% good points.
- In accordance with our knowledge, 9 shares gained over 100% whereas 52 shares in whole posted double-digit good points within the first half of 2022.
- Nairametrics expects shares to carry out weaker within the second half of this 12 months.