Only in the month of May 2013, domestic investors controlled 51.32 percent of equity trading leaving 48.68 percent for foreign investors.
The rally seen recently at Nigeria’s equities market reduced on Wednesday August 4, evidenced in the slightly positive close by 0.03percent. The insignificant gain came as investors continued to take profit on some stocks while others still moved to buy up value counters.
The share price of Cutix Plc advanced most, from N5 to N5.50, up by 50kobo or 10percent, while on the laggards list; Caverton Offshore Support led others after its share price decreased from N1.88 to N1.80, losing 8kobo or 4.26percent.
Cumulatively, equity investors gained only N5billion at the close of trading session on the Bourse.
Read also: Oil majors’ divestment: How local operators can finance deals
The Nigerian Exchange Limited (NGX) All-Share Index (ASI) and Market Capitalisation increased slightly from day-open lows of 38,917.99 points and N20.276trillion respectively to 38,927.83 points and N20.281trillion.
The stock market’s negative return year-to-date (Ytd) decreased to -3.33percent.
Sterling Bank, Transnational Corporation, UBA, Wema Bank, and AIICO were actively traded stocks on the NGX.
In 3,435 deals, equity dealers exchanged 206,292,307 units valued at N1.069billion.
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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.
