Nigeria’s stock market lost about N187billion on Tuesday, driven majorly by increased sell pressure in stocks like NGX Group Plc, Zenith Bank Plc, NPF Microfinance Bank Plc and Livestock Feeds Plc.

The market decreased by 0.69percent while its year-to-date (YtD) positive return dipped further to 16.22 percent. At the close of trading session, NGX Group led the decliners after its share price dropped from N21 to N20, down by N1 or 4.76percent.

It was followed by Zenith Bank Plc which dropped from N21 to N20.25, down by 75kobo or 3.57percent; and NPF Microfinance Bank Plc which dipped from N1.66 to N1.53, losing 13kobo or 7.83percent.

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Read also: Naira falls to lowest at official market on dollar scarcity

The market’s All-Share Index (ASI) and capitalisation decreased further on Tuesday from preceding day’s highs of 49,991.41 points and N26.964trillion respectively to 49,644.92 points and N26.777trillion.

Sterling Bank, Transcorp, Zenith Bank, GTCO and UBA were top-5 traded stocks as investors in 4,247 deals exchanged 138,991,046 shares valued at N2.725billion.

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By Iheanyi Nwachukwu • September 7, 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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