Nigeria’s equities market decreased by 0.67 percent in the trading week ended Friday November 11.
Investors lost about N164billion at the end of the review trading week.
The record negative close came despite three (3) days of positives, a day of negative close and a flat start to the review trading week.
In the review trading week, investors bought mostly banking stocks amid sell-off in insurance, consumer goods, oil and gas, and industrial stocks.
Month-to-date (MtD), the market has increased by 0.30percent as investors are seen buying low priced but value stocks after record black October.
Read also: Dangote Cement, MRS, others cause stock market to sustain gain
The market’s positive return year-to-date (YtD) stood lower at 2.93 percent at the close of trading on Friday.
The market’s performance indicators – Nigerian Exchange Limited (NGX) All Share Index (ASI) and equities Market Capitalisation decreased week-on-week (WoW) from 44,269.18 points and N24.112trillion to 43,968.75 points and N23.948trillion.
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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.
