Expectedly, Nigeria’s equities market furthered its losing streak on Tuesday by 0.12 percent or N36billion as investors continued to take profit on counters that rallied recently.
Wema Bank led the league of laggards after its share price moved down from preceding day high of N4.30 to N4.04, losing 26kobo or 6.05percent. UPDC, another top laggard dropped from a high of N1.03 to 96kobo, losing 7kobo or 6.80 percent.
At the close of trading session on Tuesday, the Nigerian equities market year-to-date (YtD) return stood lower at 8.73percent.
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The Nigerian Exchange Limited (NGX) All-Share Index (ASI) and Market Capitalisation decreased from preceding trading day’s 55,788.37 points and N30.391trillion respectively to 55,722.90 points and N30.355 trillion.
Sterling Bank, Neimeth, Zenith Bank, Chams and United Capital were most traded stocks on Tuesday as investors in 3,898 deals exchanged 199,268,791 shares valued at N2.813billion.
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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.
