NGX records first negative close in holiday-shortened week

Nigeria’s equities market on Thursday recorded its first negative close in this holiday-shortened trading week.

The NGX All-Share Index (ASI) decreased by 0.19 percent, following record sessions of positive closes in early trading this week.

All key sectoral indices closed Thursday in red, with major profit taking seen in banking, insurance and consumer goods stocks.

At the close of trading, the Nigerian Exchange Limited (NGX) All-Share Index (ASI) and equities market capitalisation decreased from preceding day’s 98,230.92 points and N56.446 trillion respectively to 98,049.04 points and N56.316trillion.

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By Iheanyi Nwachukwu • September 20, 2024

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.