Nigeria’s equities market value grew by about N1.51trillion in the trading week ended Friday May 30.

While consumer goods, industrial and insurance stocks drove the market higher, investors took profit in oil & gas and banking stocks.

NGX Consumer Goods Index rose by 5.96 percent in the review trading week, followed by NGX Insurance Index which increased by 1.76 percent, while NGX Industrial Index rose by 1.07 percent. Meanwhile, NGX Oil & Gas Index decreased by 5.42 percent, while NGX Banking Index was down by 0.88 percent.

Read also: Nigeria stocks rise further by 0.27%

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The market recorded three consecutive days of positive closes as against two days of negatives, pushing the Index higher by 1.05 percent.

The market’s return year-to-date (YtD) rose to 8.56 percent as at close of trading on Friday. The market rose by 5.62 percent in the month of May.

In the review trading week, the Nigerian Exchange Limited (NGX) All-Share Index (ASI) and Market Capitalisation increased remarkably from 109,710.37 points and N68.953 trillion respectively to 111,742.01 points and N70.462 trillion.

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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.

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