In the holiday-shortened trading week ended Friday, June 14, Nigeria’s equities market moved up by 0.71percent or N398billion as investors bought mostly oil & gas, banking, insurance and consumer goods stocks.
Bargain hunting across key sectors in the market which traded for just four days pushed the year-to-date (YtD) return higher to 33.64 percent. Month-to-date (MtD), the market has risen by 0.62 percent.
The NGX Oil & Gas Index rose most by 5.28 percent, followed by NGX Banking Index which rallied by 3.63 percent, while NGX Insurance Index increased by 3.42 percent. The NGX Consumer Goods Index increased by 1.05 percent, while NGX Industrial Index was up by 0.27 percent.
The Nigerian Exchange Limited (NGX) All-Share Index (ASI) and Market Capitalisation increased from preceding week’s lows of 99,221.14 points and N56.128 trillion respectively to 99,925.29 points and N56.526trillion.
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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.
