Consumer goods, industrial stocks fuel market’s N182bn gain

Investors interest in consumer goods and industrial stocks pushed equities value higher by N182billion in the four-day trading week ended Friday May 2.

Nigeria’s stock market rose by 0.27 percent in the review week following three days of positive closes as against a day of negative close.

In the review week, investors took profit in banking, insurance and oil & gas stocks. Despite the week’s mixed trading sessions, the market’s year-to-date (YtD) returned stood higher at +3.03 percent.

“We will continue to closely monitor the market for compelling entry points into fundamentally sound stocks, particularly in anticipation of Q1’25 earnings releases,” CardinalStone Research analysts said in their April 28 note.

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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.