Equities shed N97bn as investor take profit on recent gains

Nigeria’s equities market lost about N97billion at the close of trading session on Wednesday, February 2 as investors moved into Custom Street, Lagos for profit-taking on recent gains.

As buy-side interest reduced on the Bourse, the Nigerian Exchange Limited (NGX) All-Share Index (ASI) decreased by 0.38percent, from 47,111.21 points to 46,930.66 points while the value of listed stocks on the Nigerian Exchange decreased from N25.386trillion to N25.289billion. The market’s year-to-date (YtD) positive return decreased to 9.87percent on Wednesday.

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By Iheanyi Nwachukwu • February 3, 2022

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.