BusinessDay

Stock investors lose over N570bn in sell-pressured week

In the trading week ended Friday August 12, Nigeria’s equities market decreased by 2.09 percent or about N571billion as investors sold industrial stocks despite increased buy activities in favour of insurance counters.

In the review trading week, the market recorded four (4) days of negative closes as against just a day of positive close.

Following higher yields in Nigeria’s fixed income (FI) space, stock market continued to trade mixed, though in favour of profit takers, despite that the market offers bargain opportunities.

Read also: Nigeria stocks value sees N3trn rise in H1

All key sectoral indices closed the week ended August 12 in red except NGX Insurance and Consumer Goods indices.

Month-to-date (MtD), the market has dropped by 1.40 percent. The Nigerian Exchange Limited (NGX) All-Share Index (ASI) and Market Capitalisation which opened the week in review at 50,722.33 points and N27.358trillion respectively decreased to 49,664.07 points and N26.787trillion.

The market’s positive return year-to-date (YtD) printed lower at +16.26 percent at the close of trading session in the review week.

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