Nigeria’s equities market closed the week ended Friday September 16 in red, its second consecutive negative close lately.

The market decreased in the review trading week by 0.44percent or N118billion following four days of losses as against one day of flat close.

Banking and insurance stocks led the sell-side activities on the Nigerian Exchange Limited (NGX).

Month-to-date (MtD) the market has decreased by 0.73percent, despite starting off on a positive note.

Read also: NGX Group releases dividend policy

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The market’s All-Share Index (ASI) and capitalisation decreased from preceding weekend’s highs of 49,695.12 points and N26.804trillion respectively to 49,475.42 points and N26.686trillion.

The market’s positive return year-to-date (YtD) has decreased to +15.82 percent.

All key sectoral indices closed the review trading week in red. The NGX-30 index which measures the performance of thirty most capitalised stocks on Exchange decreased by 0.50percent; while NGX Consumer Goods Index dipped by 0.27 percent.

Others are: NGX Industrial Index (- 0.16 percent); NGX Banking Index (-3.31 percent); NGX Oil and Gas Index (- 0.16 percent); and NGX Insurance Index (+2.58percent).

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By Iheanyi Nwachukwu • September 19, 2022

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.

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