In the absence of any major positive catalyst, the Nigerian equities market expectedly saw another bearish trading session on Wednesday, September 7.
The market’s benchmark performance index dropped by 0.02percent while its year-to-date (YtD) positive return was down to 16.20percent.
Investors lost about N5billion on Wednesday as Fidelity Bank Plc led the decliners league after its share price moved down from N3.46 to N3.45, shedding 1kobo or 29percent. On the advancers list, NEM Insurance topped other stocks after its share price rose from N5.16 to N5.60, up by 44kobo or 8.53percent.
Read also: Lafarge, NGX Group top laggards as market opens week on negative note
The market’s All-Share Index (ASI) and capitalisation decreased further from preceding day’s highs of 49,644.92 points and N26.777trillion respectively to 49,635.76 points and N26.772trillion.
In 3,426 deals, equity traders exchanged 128,941,044 shares valued at N1.668billion. Mutual Benefit, Zenith, GTCO, NEM and Fidelity Bank were top-5 traded stocks.
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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.
