Nigeria’s listed stocks gained about N1.43trillion in the trading week ended Friday, June 27.

Investors hunted for value stocks across all sectors except oil & gas which saw major profit-taking activities.

The NGX Banking Index increased by +2.59 percent, NGX Consumer Goods Index (+3.73 percent), NGX Industrial Good Index (+3.92 percent), NGX Insurance Index (+3.67 percent) while NGX Oil & Gas Index decreased by 2.23 percent.

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The market recorded mixed trading sessions in the review week as cautious sentiment lingered. More investors appetite for value stocks helped the market to outweigh sell-side effect to close in green zone.

The market’s performance indicator increased by 1.57 percent, while the market’s return year-to-date (YtD) increased to 16.58 percent. This month, the stock market has risen by 7.39 percent.

In the review week, the Nigerian Exchange Limited (NGX) All-Share Index (ASI) and equities market capitalisation increased from 118,138.22 points and N74.534 trillion respectively to 119,995.76 points and N75.962 trillion.

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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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