Investors book N237bn gain in week ended December 16 -

Investors in Nigeria’s equities market recorded about N237 billion gain in the trading week that ended Friday, December 16.

Market analysts had in the review week expected a reversal of the preceding week’s positive sentiment in the market.

The analysts had premised their dismal outlook (now defied) on the likelihood of profit-taking activities on stocks that had appreciated in the previous weeks.

Industrial, Banking, Oil & Gas, and Insurance stocks helped push the market higher in the review week despite profit-taking in consumer goods stocks.

Amid four trading days of positives as against a day of negative close, the market rose week-on-week (WoW) by 0.89 percent.

The month-to-date (MtD) positive return rose to 3.48 percent as the market’s mixed trading sessions favoured the bulls. Year-to-date (YtD), the stock market has risen by 15.45 percent.

Nigerian Exchange Limited (NGX) All-Share Index (ASI) and its Market Capitalisation increased from 48,881.93 points and N26.624 trillion respectively to 49,316.29 points and N26.861 trillion.

Market rises by 0.20% as week opens

By Iheanyi Nwachukwu • December 19, 2022

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.