NGX-ASI dips further by 0.14%

… investors book N108bn loss

Nigeria equities market decreased further by 0.14 percent on Wednesday, recording its third consecutive day of negative close.

Investors have since this week continued to reinforce their risk-off stance in the equity market space, as fixed income rates remain elevated.

The market has decreased this week by 1.36 percent following dearth of positive triggers on the Nigerian Exchange Limited (NGX). This month, it has decreased by 0.11 percent.

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Though all NGX sectoral indices closed the day in red, insurance and banking stocks were majorly on offer at the Lagos Bourse.

Investors lost about N108 billion while the market’s year-to-date (YtD) return decreased to +30.06 percent.

In 8,365 deals, investors exchanged 315,302,176 shares valued at N5.480trillion.

The Nigerian Exchange Limited (NGX) All-Share Index (ASI) and equities market capitalisation decreased further from preceding day’s highs of 97,390.01 points and N55.295 trillion respectively to 97,199.6 points and N55.187 trillion.

Iheanyi Nwachukwu

Iheanyi Nwachukwu, is a creative content writer with over 18 years journalism experience writing on banking, finance and capital markets. 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).