The value of Nigeria’s listed equities increased by N138billion in the trading week ended Friday, January 28 amid mixed trading sessions as some investors traded cautiously while the value hunters cherry-picked attractive counters across board.

Despite the market’s negative start to the review week, it still recorded three (3) days of gains as against two (2) days of losses which helped it close out the week on a positive note by 0.54percent.

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The positives recorded in the review week which saw influx of full year 2021 financial scorecards of many corporates helped push the equities market’s positive return year-to-date (ytd) to +8.17percent.

At the close of the week’s trading session on Friday, January 28, the Nigerian Exchange Limited (NGX) All-Share Index (ASI) rose from week-open low of 45,957.35 points to 46,205.05 points, while the value of listed stocks on the Nigerian Bourse increased from week-open low of N24.760trillion to N24.898trillion.

NGX Banking Index rose by 4.84percent; and NGX Consumer Goods Index (+2.04percent); NGX Insurance Index (-3.12percent); NGX Industrial (-5.12percent), and NGX Oil & Gas (+3.53percent).

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By Iheanyi Nwachukwu • January 31, 2022

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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