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1. Nigerian Capital Market at Crossroads; Working Towards a New Normal

NGXASI Monthly and Quarterly Performance in 2022

The Nigerian Equities Market recorded an impressive performance in January 2022 and ended Q1 2022 with a +9.95% gain. Positive market sentiment further permeated the market in the second quarter as investors maintained the positive tempo on the bourse. The NGXASI inched up further by +10.33% in Q2 2022 

The market dipped in Q3 2022 as the benchmark index moved down by -5.39% in Q3 2022 while the index retracted by +4.54% in Q4 2022 as the market closed the year with a return of +19.98% as against the +6.07% gain recorded in the year 2021 (see chart 1 below).

Chart 1: 

Monthly, the market closed in the green in six (6) out of the twelve (12) months. The highest monthly gain was recorded in January 2022 with +9.15% while the highest loss was recorded in October 2022 with -10.58% loss recorded.

OR

Strong positive sentiment in the market as it closed in the green in six (6) out of the twelve (12) months. January 2022 recorded the largest monthly gain of +9.15 %, while October had the highest monthly loss at -10.5 % (see table 3 below). 

Table 3: