Nigeria’s equities market increased by 0.46percent or N118billion in the trading week ended October 14.
The record gain on the Nigerian Exchange Limited (NGX) came amid two days of positive closes and two days of negatives in the review trading week.
Read also: Naira weakens across foreign exchange markets
In the holiday-shortened week, some investors cherry-picked attractive counters across board while others continued to show apathy towards equities due to the monetary policy tightening by the central bank which has resulted in elevated yields on fixed-income securities.
In the review trading week, the market’s All-Share Index (ASI) rose week-on-week (WoW), from a low of 47,351.43points to 47,569.04 points, while its Market Capitalisation increased from preceding weekend’s low of N25.791trillion to
N25.909trillion.
Though the market has decreased by 2.97percent since this month of October, its record positive return year-to-date (YtD) has increased to +11.36 percent.
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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.
