Investors on the Nigerian stock market, in April, earned N1.449 trillion as market capitalisation closed at N26.761 trillion from N25.312 trillion it opened for trading activities on April 1, 2022.

At the Nigerian Exchange Limited (NGX), investors transacted a total turnover of 12.148 billion shares worth N103.005 billion in 100,297 deals the domestic market closed the month of April on a positive note amid impressive first quarter (Q1), 2022 earnings release and dividend payments.

Also, the overall market performance measure All-Share Index (ASI), which tracks the general market movement of all listed equities on the Exchange, rose by 5.69 per cent to close at 49,638.94 points in the month of April.

Consequently, year-to-date (YTD) return inched higher to 16.2 per cent as the month of April recorded more bulls than bears. Out of 19 trading days in the month, the domestic bourse recorded gains on 14 indicating a strong bullish run.

Also, performance across sectors was strongly bullish as all the indicators closed in the green in April. NGX Oil & Gas index appreciated the most by 19.06 per cent. NGX Consumer Goods index followed with a gain of 11.54 per cent, while NGX Pension index rose by 9.03 per cent.

Others are NGX Premium Index, NGX Banking, NGX 30, NGX Insurance, NGX Industrial Goods and NGX Lotus II indices went up by 7.21 per cent, 6.24 per cent, 5.31 per cent, 3.71 per cent, 3.25 per cent and 2.50 per cent in that order.

On market outlook, analysts at Afrinvest Limited expect the positive sentiment from dividend payments to linger into early May. “We think the market might begin to enter a quiet mood in the later part of the month.”

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