Nigeria’s stocks gain over N800bn in week ended Jan.21

Nigeria’s equities investors gained about N809billion in the trading week ended Friday January 21.

Despite its negative start to the review week, the market still recorded four (4) consecutive days of gains which helped it close out the week on a positive note by 3.38percent. The stock market’s positive return seen year-to-date (ytd) increased to 7.59percent.

At the close of the week’s trading session on Friday January 21, the Nigerian Exchange Limited (NGX) All-Share Index (ASI) rose from week-open low of 44,454.67 points to 45,957.35 points, while the value of listed stocks on the Nigerian Bourse increased from week-open low of N23.951trillion to N24.760trillion.

Seplat Energy Plc drove the Oil & Gas counters (NGX Oil & Gas Index + 5.21percent) which spurred market’s record growth in the review week while Dangote Cement Plc led the league of Industrial stocks (NGX Industrial Index +4.37percent).

All NGX key sectoral indices closed the week in green except NGX Insurance Index (-0.27percent). Others are: NGX Banking Index (+1.66percent) and NGX Consumer Goods Index (+1.03percent).

Iheanyi Nwachukwu

Iheanyi Nwachukwu, is a creative content writer with over 18 years journalism experience writing on banking, finance and capital markets. 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).

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