In the trading week ended Friday, August 15, Nigeria’s stock market decreased by 0.77percent. The value of Nigeria’s listed equities also decreased by N713billion as profit taking activities resurface at the Nigerian Bourse.

In the review trading week, equities market recorded three days of negative closes as against two days of positives, as investors invade the local bourse in hunt for profit following weeks of rally.

Except NGX Insurance index, all other key sectoral indices closed the week in red.

The stock market’s return year-to-date (YtD) decreased to +40.52 percent. This month, the market has risen by 3.41 percent.

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The NGX Banking Index decreased by 0.23 percent; NGX Industrial Index (-0.83percent), NGX Consumer Goods Index (-0.94percent), NGX Insurance Index (+8.21 percent), and NGX Oil & Gas Index (-1.42 percent).

The National Bureau of Statistic (NBS) on Friday released Nigeria’s inflation report which shows headline inflation moderated to 21.88percent in July as against 22.22 percent in June the harvest season kicks in.

The Nigerian Exchange Limited (NGX) All-Share Index (ASI) and equities Market Capitalisation decreased from preceding week’s close of 145,754.91 points and N92.214 trillion to 144,628.2 points and N91.501trillion.

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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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