Stocks Market Records N314bn Gain In First Half Of 2016

Nigerian investors recorded capital gains of N314 billion in the first half of this year, indicating a modest average return of 3.34 per cent over the six-month period.

Riding on the back of sustained gains in May and June, the stock market erased the losses in the previous four months and left the investors with some N314 billion in capital gains.

A six-month analysis of the first half showed that the market benefited from the newly introduced market determined foreign rate policy which was a boot to investor confidence.

The main value-based indices at the Nigerian Stock Exchange (NSE) showed modest performance.

Aggregate market value of all quoted equities closed the first half at a high of N10.165 trillion as against its 2015 opening value of N9.851 trillion.

Source:- Todayng