Nigeria’s equities market loses N28bn in one week

Nigeria investors to earn over N780bn as companies final dividend for 2021

In the trading week ended Friday, November 19, investors in Nigeria’s listed stocks lost about N28billion as the market decreased by 0.12percent. The market continued to trade on a bearish note as sell-off activities outweigh demand.

All sectoral indices closed the week in red led by NGX Oil & Gas Index (-3.63percent), followed by NGX Banking Index (-1.60percent) and NGX Consumer Goods Index which was down by 1.40percent week-on-week. Others are: NGX Insurance Index (-0.47percent), NGX Industrial Index (-0.10percent), and NGX Pension Index (-1.92percent).

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The market has risen by 2.76percent in November. The equities market’s year-to-date (YtD) positive return stood at 7.27percent on Friday.

The Nigerian Exchange Limited (NGX) All-Share Index (ASI) and Market Capitalisation which opened the review week at 43,253.01points and N22.572trillion respectively decreased to 43,199.27 points and N22.544trillion.

Iheanyi Nwachukwu

Iheanyi Nwachukwu, is a creative content writer with over 18 years journalism experience writing on banking, finance and capital markets. 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).

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