Nigeria’s equities market routed to the green zone in the trading week ended Friday, March 11, 2022, amid improved buy activities as investors bought insurance stocks as well as some banking counters to qualify for their final dividend payments.

In the review trading week, the market recorded three (3) days of positive closes as against two (2) days of negatives. Market watchers had anticipated a slightly bullish close to the review week as investors in their buy mood (till Friday, March 11; +0.16percent) continued to trade stocks in line with proposed dividend payments while also cherry picking attractive counters across board.

The record positive (+0.36percent) in the review week helped push the market’s positive return year-to-date (YtD) to a new high of 11.05percent. Month-to-date (MtD), the market has risen by 0.09percent.

Read also: Investors book N41bn gain as equities market maintains positive close

Related News

The stock market’s benchmark performance indicator – Nigerian Exchange Limited (NGX) All-Share Index (ASI) increased week-on-week (WoW) by 0.36 percent, from a week-open low of 47,268.61 points to 47,437.48 points.

Also, the value of stocks listed on the Nigerian Exchange increased by N91billion, from week-open low of N25.475trillion to N25.566trillion on Friday, March 11.

Except for NGX Consumer Goods Index (-0.52percent); NGX Industrial Index (-0.13percent); and NGX Oil & Gas Index (-2.22percent), other key sectoral indices closed the review week in green. For instance, NGX Banking Index increased in the review week by 1.29percent, trailing the highest advancer NGX Insurance Index which increased by 2.65percent.

More from our Markets Column
Read Next
Nigeria banks show resilience despite fintech threat.

Nigeria banks show resilience despite fintech threat

By Oladehinde Oladipo • March 14, 2022

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.

Join BusinessDay whatsapp Channel, to stay up to date

Open In Whatsapp