Nigeria’s equities market moves further south by 0.03%

As investors await earnings releases from the large-cap stocks on the Nigerian Exchange, the market failed to gain traction on Wednesday, July 28, dipping slightly by 0.03percent.

The muted buy-side activity on the Bourse came as investors continued to evaluate among others, the likely implications of the Monetary Policy Committee (MPC) ‘hold’ decision on key parameters as well as the CBN’s halt of dollar sales to money changers (BDCs).

At the close of trading on Wednesday, the Nigerian Exchange Limited (NGX) All-Share Index (ASI) and Market Capitalisation decreased further by 0.03percent or N6billion, from day open highs of 38,802.15 points and N20.216trillion respectively to 38,791.03 points and N20.210trillion.

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By Iheanyi Nwachukwu • July 28, 2021

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.