Nigeria’s stock market rises by 0.72% in one week

Guaranty Trust Bank Plc, Cadbury Nigeria Plc, and Vitafoam Nigeria Plc have informed their shareholders and other relevant insiders that they have commenced closed period for trading in their shares.

Despite pockets of profit-taking activities in the trading week ended December 4, Nigeria’s stock market still rose by 0.72 percent, market data show.

The market’s positive return year-to-date (YtD) printed higher at +30.91 percent as at Friday.

All the NSE sectoral indexes closed in the red zone in the review trading week except NSE Insurance and NSE Oil & Gas.

With the declines recorded in key sectors of the Exchange, market watchers expect investors to start taking a position in some fundamentally sound stocks seen trading at record low and attractive prices.

The Nigerian Stock Exchange (NSE) All-Share Index (ASI) and Market Capitalisation appreciated from a week-open low of 34,885.51 points and N18.228 trillion to close the review trading week at 35,137.99 points and N18.365 trillion, respectively.

Investors booked about N137 billion gain in the trading week under review. Month-to-Date (MtD), the market has increased by 0.27 percent.

Iheanyi Nwachukwu

Iheanyi Nwachukwu, is a creative content writer with over 18 years journalism experience writing on banking, finance and capital markets. 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).

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