Nigeria’s equities market opened this week on a negative note, down by 0.89 percent or about N500billion at the close of trading on Monday.
The market’s negative start to new week was majorly driven by investors who sold Airtel Africa Plc which led league of laggards.
Airtel share price dropped from a high of N2,200 to N1,980, down by N220 or 10percent.
It was followed by Berger Paints which dropped from N13.70 to N12.35, losing N1.35 or 9.85percent, while IMG decreased from N13.75 to N12.40, down by N1.35 or 9.82percent.
The All Share Index (ASI) closed south from 99,587.25 points recorded the preceding trading day to 98,703.68 points while the market capitalisation dropped from N56.323trillion to N55.823trillion. The market’s year-to-date (YTD) return stood lower at 32 percent.
Access Holdings, UBA, GTCO, and Zenith Bank were the most traded stocks on Monday as investors in 10,624 deals exchanged 421,727,563 shares worth N8.953billion.
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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.
