Stocks gain N158bn in week ended June 10

Market up 41.39% year-to-date as stocks gain N2.1trn in one week

Nigeria’s equities market increased by about N158billion or 0.55 percent in the trading week ended June 10, amid three days of positive closes as against two days of negatives.

The market’s year-to-date (YtD) return stood at 24.55percent, while the market has increased by 0.40 percent this month. The week’s positive close was driven by buy activities in favour of oil & gas; industrial stocks.

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All NGX sectoral indices closed the week in red except NGX Oil & Gas index which went up by 0.68percent and NGX Industrial which advanced by 0.25percent.

The Nigerian Exchange Limited (NGX) All-Share Index (ASI) and Market Capitalisation closed the review week at 53,201.38 points and N28.681trillion respectively as against 52,908.24 points and N28.523trillion recorded the preceding weekend.

Iheanyi Nwachukwu

Iheanyi Nwachukwu, is a creative content writer with over 18 years journalism experience writing on banking, finance and capital markets. 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).

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