In the trading week ended Friday September 8, Nigeria’s equities market rose by 0.91percent while investors booked N337billion gain in stocks.
The market’s positive close in the review week came despite sessions of profit-taking and bargain hunting for stocks like Oando, Dangote Sugar Refinery and Nascon.
The stock market positive return year-to-date (YtD) increased to 32.96percent. Month-to-Date (MtD), the market has increased by 2.40 percent.
Read also: Equities market moves further south by 0.3%
The key performance indicators – Nigerian Exchange Limited (NGX) All-Share Index (ASI) and equities market capitalisation increased from preceding week’s lows of 67,527.19 points and N36.958trillion respectively to 68,143.34 points and N37.295trillion.
Banking stocks rallied most, followed by consumer goods stocks while investors booked profit in industrial, insurance and oil & gas stocks.
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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.
