In the trading week ended Friday, December 23, investors in Nigeria’s stock market recorded about N212billion gain as they continued to cherry-pick counters across board.

Though all NGX sectorial indices closed the week in the positive region, banking, consumer goods and oil & gas stocks were more on investors buy list.

Amid four trading days of positives as against a day of flat close, the market rose week-on-week (WoW) by 0.79 percent.

Following increased bargain ahead of Christmas holidays, forty-one (41) equities appreciated in price in the review trading week, higher than 32 equities in the preceding week.

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Seventeen (17) equities depreciated in price lower than 28 in the preceding week, while 99 equities remained unchanged, higher than 97 equities recorded in the preceding week.

Also, the positive return seen month-to-date (MtD) increased to 4.29percent as market’s trading sessions favoured the bulls. Year-to-date (YtD), the stock market has risen by 16.36percent.

Nigerian Exchange Limited (NGX) All-Share Index (ASI) and its Market Capitalisation increased from week open low of 49,316.29 points and N26.861trillion respectively to 49,706.09 points and N27.073trillion.

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By Iheanyi Nwachukwu • December 26, 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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