Nigerian stocks are still attractive and should remain resilient in this year.
Nigeria’s equities market closed in the green zone (+0.17percent) on Thursday, September 2 as sell-side pressure decreases on the Bourse.
Investors moved to buy banking, insurance and industrial stocks. All key sectoral indices closed in the green zone, except NGX Oil & Gas (-1.22 percent) and NGX Consumer Goods (- 0.06percent).
NGX Banking Index increased by +0.19percent, NGX Insurance (+1.07percent), NGX Industrial (+0.44percent).
Equity investors booked about N36billion gain at the close of trading session.
Read also: Nigeria’s equities market gains only N1bn in one week
With sell pressure now failing to hold sway in the market, analysts expect investors to start looking out for fundamentally sound names with lower entry price.
The Nigerian Exchange Limited (NGX) All-Share Index (ASI) and Market Capitalisation moved up from preceding day’s lows of 39,184.18 points and N20.415trillion to 39,252.19 points and N20.451trillion.
The record negative return year-to-date (YtD) stood lower at -2.53percent at the close of trading session on Thursday.
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Iheanyi Nwachukwu
Iheanyi Nwachukwu, is a creative content writer with almost two decades journalism experience writing on banking, finance, capital markets, and tax. The multiple awards winning journalist is Assistant Editor, BusinessDay. Iheanyi holds BSc Degree in Economics from Imo State University; Master of Science (MSc) Degree in Management from University of Lagos.
Iheanyi has attended several work-related trainings including (i) Advanced Writing and Reporting Skills (Pan African University, Lagos); (ii) News Agency Journalism (Indian Institute of Mass Communication {IIMC}, New Delhi, India); and (iii) Capital Markets Development and Regulations (International Law Institute {ILI} of Georgetown University, Washington DC, USA).
Other trainings Iheanyi attended include: Economic/Political Risk Analysis (By Thomson Reuters Foundation); International Financial Journalism (IFJ) (By PMA Media Training, UK); Effective Business Writing Skills (By Phillips Consulting); Reporting on Corporate Governance (By International Finance Corporation (IFC) & Thomson Reuters Foundation UK); etc. In addition, he has participated in high-level economy & markets events in Dubai, South Africa, Morocco, and other African countries like Zambia, Ghana and Gambia.
