In the holiday shortened trading week ended Friday, May 3, Nigeria’s equities market rose by 1.4 percent.
Investors interest in banking and insurance stocks helped push the market higher despite sell off in consumer goods, industrial, and oil & gas stocks.
The All Share Index (ASI) rose to close at 99,587.25 points while the market capitalisation gained N811.48billion to close at N56.32trillion.
“We expect the market to trade in a mixed manner on Monday, as the positive sentiment from this week filters out of the market, especially with key names having already released their latest quarterly performance numbers,” according to Lagos-based Vetiva Research analysts.
The market’s year-to-date return rose to 33.18 percent.
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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.
