The Nigerian Exchange Limited (NGX) All Share Index (ASI) surpassed 100,000 psychological points as stock buyers resumed activities on the Bourse.

Stock market recorded three days of positive sessions as against two days of negative closes in the trading week ended Friday June 28.

The market had before now seen muted activities as investors took to ‘wait-and-see’ approach in early trading during the review.

Oil & gas, insurance and bank stocks helped the market’s positive close in the review week despite profit taking in consumer goods and industrial stocks.

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As bargain hunting sentiment dictated activity in the later part of the review trading week, investors booked about N178billion gain as they continued to favour fundamentally sound stocks.

Week-on-week (WoW), the NGX ASI and Market Capitalisation rose by 0.32 percent from preceding week’s lows of N99,743.05 points and N56.423trillion respectively to 100,057.49 points and N56.601trillion.

Equities market’s year-to-date (YtD) return stood further in the positive territory at 33.81 percent.

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By Iheanyi Nwachukwu • July 1, 2024

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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