Nigeria’s equities market closed the trading week to Friday September 10 on a negative note following successive sessions of profit taking activities on the Bourse.
The market could not reverse the trend despite that investors started to take up position in some fundamentally sound stocks with beaten down prices.
Read also: Nigerian stocks lag peers as investors worry over economy
The NGX All-Share Index (ASI) and Market Capitalization depreciated by 0.86percent to close the week at 38,921.78 points and N20.278trillion respectively, from highs of 39,261.01 points and N20.456 trillion at the beginning of the review week. This implies that investors lost about N178billion at the close of the week’s trading session.
Analysts expected this dismal performance on the Nigerian Exchange Limited (NGX) to filter into Monday’s trading session with the possibility of the market recording mixed trading sessions.
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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.
