Nigeria equities shed N29bn in trading week ended Feb. 18

The value of Nigeria’s listed stocks decreased further by about N29billion in the trading week ended Friday, February 18, 2022.

The review week which had taken off on a negative note recorded two (2) trading session of losses against two (2) sessions of gains and one neutral close as bargain hunters and profit takers continued their struggle for dominance on Custom Street, Lagos.

At the close of the week’s trading session, the Nigerian Exchange Limited All-Share Index (ASI) decreased by 0.13percent, from a week-open high of 47,202.3 points to 47,140.48 points. Also, the value of listed stocks on the Nigerian Bourse decreased from a week-open high of N25.435trillion to N25.406trillion.

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The market’s month-to-date (MtD) return still stood positive at 1.11percent while year-to-date (YtD) positive return decreased to +10. 36percent.

A look at the performance of key indices showed NGX -30 Index which tracks the top 30 companies in terms of market capitalisation and liquidity increased by 0.05percent in the trading week under review.

Performance of sectoral indices NGX Banking Index which provides an investable benchmark to capture the performance of the banking sector dipped by 0.74 percent –this index comprises the most capitalised and liquid companies in banking.

Others are: NGX Consumer Goods Index (+1.35percent); NGX Industrial (-0.32percent), NGX Insurance Index (-1.05percent); and NGX Oil & Gas (-3.45percent).