In the trading week ended Friday June 9, 52 equities appreciated in price lower than 66 equities in the preceding week.

Twenty-seven equities depreciated in price higher than 23 in the preceding week, while 77 equities remained unchanged, higher than 67 recorded in the preceeding week.

The review trading week recorded only one day of gain as against 4 days of decline.

The Nigerian Exchange Limited (NGX) All-Share Index (ASI) and Market Capitalisation appreciated by 0.20percent to close the week at 55,930.97 points and N30.455 trillion respectively.

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Similarly, all other indices finished higher with the exception of NGX Premium, NGX AFR Div. Yield, NGX Lotus II, NGX Industrial Goods, NGX Growth and NGX Sovereign Bond which depreciated by 0.75percent, 0.06percent, 0.08percent, 1.31percent, 0.51percent, and 1.50percent respectively while the NGX ASeM index closed flat.

Amid relatively lukewarm sentiment displayed in the review trading week, Lagos-based analysts at Vetiva research said they anticipate another week of mixed trading “as investors maintain their cautious approach, and favour fundamentally sound stocks”.

During the review week, Airtel Africa (+1.79percent), MTNN (+0.04percent) and Stanbic IBTC Holdings (+2.27percent) led the market’s gains.

On the laggards list, Zenith Bank (-2.10percent), Geregu Power (-0.61percent) and GTCO (-1.23percent w/w) contributed majorly to the record losses.

The market’s year-to-date (YtD) return stood at 9.13percent, while its market capitalisation increased N60.11billion.

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By Iheanyi Nwachukwu • June 12, 2023

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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