The nation’s stock market lost N519 billion or 1.82 percent, its largest daily dip so far this month
Nigeria’s stock market rerouted north of Wednesday, rising by about 0.09percent as the Bourse continues to witness sessions of bargain hunting and profit taking activities.
Equity investors gained about N21billion at the close of trading session on Wednesday. The market closed in the green zone as investors raised bets in RedStar which rose most by 7.94 percent, while others like Meyer increased by 7.69percent, Japaul Gold (+5.41 percent), UPDC (+4.35 percent) and Africa Prudential (+4.10 percent).
Read also: Global markets update: Oil rises above $63, stocks at record highs
In 3,476 deals, equity traders exchanged 226,179,887 shares valued at N2.632 billion. International Breweries, FBN Holdings, GTCO, Unilever and Mutual Benefit were most traded stocks on the NGX.
The Nigerian Exchange Limited (NGX) All-Share Index and Market Capitalisation which stood at preceding day’s lows 42,317.52 points and N22.081trillion respectively increased to 42,357.36 points and N22.102 trillion.
The stock market’s year-to-date (YtD) positive return increased to 5.18percent.
Get Newsletter Updates
Enjoying our column?
Subscribe to our specialised **Tax 360** feed to receive fresh reports and analyses directly in your inbox.
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.
