Nigeria's equities market closes week in red
Nigeria's equities market remained in the red for most of the week driven mostly by cautious investing in the country's weak macroeconomic environment.
Fri, 20 Jan 2017 14:04:42 GMT
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AI Generated Summary
- Nigeria's equities market closed the week in the red, reflecting cautious investing in the weak macroeconomic environment.
- The stock market saw a slight uptick today, with the currency remaining stable in the official and parallel markets.
- Analyst Babajide Solanke emphasized the significance of the government's economic recovery program in attracting investments and fostering sustainable growth.
Nigeria's equities market remained in the red for most of the week, reflecting cautious investing in the country's weak macroeconomic environment. The stock market managed to finish higher today at 26,223.0.08%, while the currency remained relatively stable in the two major market segments. The official market stood at 305 Naira to the dollar, with the parallel market hovering around $498.00. To provide insights on the trading week, Babajide Solanke, Research & Strategy Analyst at FSDH Merchant Bank, joined CNBC Africa for a review. Solanke shared his views on the market's performance, the impact of Nigeria's economic policies, and the outlook for future investments. He highlighted the importance of the government's economic recovery program in attracting more interest and promoting sustainable growth.
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