Stocks lose N78bn as investors sell Okomu, NEM Insurance, others

At the close of equities trading session on Thursday, the Nigerian Exchange Limited (NGX) All-Share Index (ASI) and Market Capitalisation decreased further by 0.29percent from preceding day’s high of 49,691.17 points and N26.801trillion respectively to 49,546.38 points and N26.723trillion.

As sell pressure continued on the Bourse, Nigeria’s listed stocks value decreased by N78billion.

The record negative close was caused among others by Okomu Oil Palm Plc which decreased most on the Bourse from N216.90 to N195.30, losing N21.60 or 9.96percent.

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By Iheanyi Nwachukwu • August 19, 2022

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.