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Nigeria stocks shed N42bn in trading week ended Feb.11

Domestic investors strengthen control of Nigeria’s equities trading

The value of listed stocks on the Nigerian Exchange Limited (NGX) decreased by about N42billion in the trading week ended Friday, February 11, 2022.

The review week which had taken off on a negative note recorded a trading session of 3 losses as against 2 sessions of gains, signalling a struggle for dominance between bargain hunters and profit takers as companies release their full-year scorecards.

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At the close of the week’s trading session, the Nigerian Exchange Limited All-Share Index (ASI) decreased by 0.16percent, from a week-open high of 47,279.92 points to 47,202.3 points. Also, the value of listed stocks on the Nigerian Bourse decreased from a week-open high of N25.477trillion to N25.435trillion.

Despite the record negative close, the market’s month-to-date (MtD) return stood positive at 1.24 per cent while the year-to-date (YtD) return lowered to +10.50percent.

NGX -30 Index increased by 0.07percent; NGX Banking Index rose by 2.34 percent; NGX Consumer Goods Index (+1.35percent); NGX Industrial (+0.06percent), NGX Insurance Index (-1.51percent); and NGX Oil & Gas (+0.29percent).