The nation’s stock market lost N519 billion or 1.82 percent, its largest daily dip so far this month
Nigeria’s stock market increased by 1.37percent or N324billion in the trading week ended Friday January 14 amid sessions of profit taking and bargain hunting. Year-to-Date (YtD), the market has increased by 4.07percent.
The record gain in the review trading week was driven by improved buy-side activities in favour of industrial goods, oil & gas, and banking stocks.
NGX Industrial Index increased most by 3.56 percent, followed by NGX Oil & Gas Index (+1.74percent) and NGX Banking Index (+0.75percent), while NGX Consumer Goods Index decreased by 4.35percent, followed by NGX Insurance Index (-1.54percent).
Read also: NGX-30 Index: Oando replaces Nascon
At the close of the week’s trading session on Friday, the Nigerian Exchange Limited (NGX) All-Share Index (ASI) rose from a week-open low of 43,854.42 points to 44,454.67 points, while the value of listed stocks on the Nigerian Bourse increased from a week-open low of N23.627trillion to N23.951trillion.
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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.
