Barely six months gone, the year has been strongly on the side of stocks, with Nigerian equities having gained 34 per cent to date, led by the NGX Industrial Goods Index.
That sector index tracking the performance of the industrial sector, where big guns like Dangote Cement and BUA Cement dominate, alone has recorded roughly 74 per cent appreciation.
One big positive during the period, able to help keep the momentum of gain for the rest of 2024, is the consistency of interest foreign investors have been showing in Nigerian stocks month on month. Those investors executed deals worth N458.3 billion in the year to May, compared to less than N100 billion in the same period of last year, a level seen in pre-pandemic days.
