Nigeria’s stock market closed further in the red zone on Thursday by 0.49percent or N23billion amid investors low appetite for equities ahead of second quarter (Q2) scorecards.

The stock market’s positive return year-to-date (YtD) printed lower at 20.19 percent.

Transcorp, International Breweries, FBN Holdings, Zenith Bank and Sterling Bank were top 5 traded stocks on the Nigerian Bourse.

In 3,731 deals, investors exchanged 115,410,147 shares valued at N1.205billion.

Read also: Stock market sees first gain this week

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The Nigerian Exchange Limited (NGX) All-Share Index (ASI) and Market Capitalisation decreased further on Thursday from preceding trading day’s highs of 51,390.25 points and N27.713trillion respectively to 51,339.01 points and N27.685trillion.

Champion Breweries led the top losers league after its share price decreased from N3.89 to N3.55, down 34kobo or 8.74 percent.

It was followed by Ikeja Hotel Plc which also dropped from a high of N1.30 to N1.20, down 10kobo or 7.69 percent.

Also, International Breweries was down from N5.80 to N5.50, losing 30kobo or 5.17percent.

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By Iheanyi Nwachukwu • July 15, 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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