Nigeria’s stock market rose by 2.66 percent or about N1.33trillion in the first trading week of the year 2022, thanks to newly listed BUA Foods Plc and record positive sentiments which fuelled gains in large cap names like Airtel Africa Plc and Nestle Nigeria Plc.

In the review trading week, the Nigerian Exchange Limited (NGX) listed by introduction
18billion shares of BUA Foods.

The listing by introduction of BUA Foods Plc on the Main Board of The Exchange last Wednesday added N720billion to the market capitalisation of NGX, further boosting liquidity in the Nigerian capital market and providing opportunities for wealth creation.

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Read also: NGX resumes year upbeat as ASI up by 0.73%

As at the close of trading session on Friday January 7, the Nigerian Exchange Limited (NGX) All-Share Index (ASI) rose to 43,854.42 points as against week-open low of 42, 716.44 points, while the value of listed stocks on the Nigerian Bourse increased from week-open low of N22.296trillion to N23.627trillion.

Except NGX Consumer Goods Index (-0.87percent) and NGX Insurance Index (-0.93 percent), other key sectoral indices closed the review week in green. NGX Banking Index increased by 0.78 percent; NGX Industrial Index (+0.34 percent); and NGX Oil & Gas Index (+2.68percent).

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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.

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