Nigeria’s stock investors booked about N6billion loss at the close of trading session on Wednesday August 25 as the equities market closed slightly in the red (-0.03percent). Though, this month alone the market has increased by +2.34 percent.

The southward close on Wednesday came despite analysts earlier expectation of improved buy activity in the banking counters as investors still await their audited half-year (H1) results.

The Nigerian Exchange Limited (NGX) All-Share Index (ASI) and Market Capitalisation decreased from preceding trading day’s high of 39,460.68 points and N20.559trillion respectively to 39,449.82 points and N20.553trillion.

Read also: Equities lose N3bn as investors take profit on recent gains

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In 3,336 deals, investors exchanged 198,331,859 units valued at N1.056billion. Actively traded stocks include: Sovereign Trust, Mutual Benefit, Jaiz Bank, Regency Alliance and Transcorp.

The Nigerian equities market’s negative return year-to-date (YtD) stood higher at -2.04percent.

Academy Press Plc led the losers’ league after its share price moved down from 41kobo to 37kobo, shedding 4kobo or 9.76percent. Pharma Deko Plc followed after dipping from a high of N1.89 to N1.71, losing 18kobo or 9.52percent.

Mutual Benefit Plc decreased from 35kobo to 32kobo, down by 3kobo or 8.57percent. ABC Transport also decreased from 39kobo to 36kobo, shedding 3kobo or 7.69percent; while Unity Bank lost 4kobo or 6.67percent, from 60kobo to 56kobo.

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By Iheanyi Nwachukwu • August 25, 2021

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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