The Nigerian Exchange Limited (NGX) All-Share Index (ASI) and Market Capitalisation depreciated by 2.71 percent to close the week ended Friday April 19 at 99,539.75 points and N56.296 trillion respectively.
All other indices finished lower in the review trading week with the exception NGX Sovereign Bond which appreciated by 3.57 percent, while the NGX ASeM and NGX Oil and Gas indices closed flat.
In the review week, the market received a notification from NASCON stating SEC’s suspension of the proposed merger of Dangote Sugar Refinery, NASCON and Dangote Rice.
“Following the news, the two stocks opened fully offered. We expect the sector to trade bearish…, while the banking sector trades mixed,” Vetiva Research analysts said on Friday.
Thirteen equities appreciated in price during the review week, lower than nineteen equities in the preceding week. Sixty-two equities depreciated in price higher than 40 in the preceding week, while 79 equities remained unchanged, lower than 95 recorded in the preceding trading week.
Get Newsletter Updates
Enjoying our column?
Subscribe to our specialised **Tax 360** feed to receive fresh reports and analyses directly in your inbox.
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.
