In the trading week ended Friday December 9, Nigeria’s equities investors booked about N395billion gain amid four days of positives as against a day of negative close.
Stocks like BUA Cement, Lafarge Africa and others helped fuel last trading day’s rally.
The mixed trading sessions which tilted in favour of the bulls pushed higher the month-to-date (MtD) return to 2.56percent.
Read also: NGX CEO elected ASEA executive committee member
Nigerian Exchange Limited (NGX) All-Share Index (ASI) and its Market Capitalisation increased by 1.51percent to close at 48,881.93 points and N26.624trillion as against preceding weekend’s lows of 48,154.65 points and N26.229trillion respectively.
Except NGX banking index (0.25percent), all other sectoral indices closed the review week in green led by NGX Industrial Index (+8.53percent). NGX Consumer Goods also rose by 1.65percent, NGX Insurance (+1.31percent), and NGX Oil & Gas Index (+0.29percent).
Year-to-date (YtD), the stock market has increased by 14.43 percent.
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Iheanyi Nwachukwu
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.
