In the absence of positive activity in large cap names, the Nigerian equities market on Thursday saw another bearish close, dipping by 0.12percent as the Monetary Policy Rate (MPR) hike further dampens sentiments in the stock market. International Breweries led the losers league after its share price decreased from N5.45 to N4.95, down 50kobo or 9.17percent.

The nation’s equities market’s performance indicators – the All-Share Index (ASI) and Market Capitalisation – decreased further from preceding trading day’s highs of 52,186.52 points and N28.142trillion respectively to 52,122 points and N28.107trillion. Investors lost about N35billion.

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Caverton also decreased from N1.25 to N1.14, down by 11kobo or 8.80percent. RTBriscoe was also on the league of top laggards after decreasing from 48 kobo to 44kobo, down by 4kobo or 8.33percent. Chams dropped from 27kobo to 25kobo, down by 2kobo or 7.41percent, while LASACO dipped from N1.09 to N1.01, down by 8kobo or 7.34percent.

The market’s positive return year-to-date (YtD) printed further lower at +22.02 percent. In 3,447 deals, investors exchanged 151,942,487 units valued at N2.157billion.

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By Iheanyi Nwachukwu • July 22, 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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