Nigeria’s equities market closed the trading week ended Friday November 20 in red as investors booked about N471billion loss.
The record negative close came despite tier 1 lenders releasing their nine months (9M) financial results.
The Nigerian Stock Exchange (NSE) All-Share Index depreciated by -2.57 percent, from 35,037.46 points at the beginning of the review trading week to 34,136.82 points at the end of the week’s trading session.
In the trading week under review, all the NSE sectoral indexes closed in the red zone, except that of NSE Insurance which closed slightly in the green.
Also, the value of listed stocks on the Bourse decreased by N471billion, from N18.308trillion to N17.837trillion.
The market’s positive return year-to-date (YtD) stood lower at +27.18 percent; though month-to-date (MtD), the stock market of Africa’s largest economy has rallied by +11. 81 percent.
Stock investors will continue to price-in the tier 1 banks’ results, which will further dictate the direction of the market.
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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.
