Investors lose N64bn as Presco, others spur market to reverse gain

Investors in Nigeria’s equities market lost about N64billion on Tuesday as Presco led other counters that caused the market to reverse preceding day’s gain. The market, which closed down by 0.17percent.

“Equities are still performing well (although we think most of the heavy lifting of the NGX Exchange All-Share Index has been done already this year) and risk products still get investors’ attention. What investors need to understand is that they may need to change tactics again this year. Keep your options open,” said Coronation Research analysts.

AFEX lists record N100bn 3-year asset-backed CP programme on the Exchange

By Iheanyi Nwachukwu • October 10, 2023

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.