Nigeria’s equities market closed the week ended Friday August 5 in green, rising by 0.70 percent despite three (3) days of losses as against two (2) days of gains.
Investors booked N196billlion gain in the review trading week, driven majorly by consumer goods, banking and oil & gas stocks while industrial and insurance stocks were on offer.
Though, recent hike in benchmark interest rate puts pressure on the sell side of the Nigerian Bourse, investors still remained upbeat on value counters as they continued to weather the storm of hostile operating environment posting impressive half-year (H1) earnings.
Read also: Market heads further south by 0.03% as BUA Cement tops laggards
The market’s positive return year-to-date (YtD) printed higher at +18.74 percent at the close of trading session in the review week.
The Nigerian Exchange Limited (NGX) All-Share Index (ASI) and Market Capitalisation which opened the week in review at 50,370.25 points and N27.162trillion respectively, closed higher at 50,722.33 points and N27.358trillion.
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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.
