Investors at the Nigerian Bourse who held their stocks till August 30, 2019 booked approximately N116billion loss, BusinessDay trend watch shows.

In the absence of any positive catalyst,  the equities market will still remain pressured into the new month of September.

The value of listed stocks on the Nigerian Stock Exchange (NSE) which opened the month of August at N13.507trillion decreased remarkably to N13.391trillion as at Friday August 30, the last trading day.

Likewise, the Nigerian Stock Exchange (NSE) All Share Index (ASI) closed lower from August open level of 27,718.26 points to 27,525.81 points, down by 0.69percent.

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Despite improvement in market breadth and more advances than declines especially in the third trading week in August, market heavyweights still dictated the movement of the overall index as witnessed in the later part of the review month.

The last trading week in August close in the red as sell pressure dominated most trading sessions on the back of capital appreciation that was recorded in the preceding week to August 23.

The stock market’s year-to-date (YtD) returns still stood in the negative region of -12.42percent as at close of trading on August 30.

Iheanyi Nwachukwu

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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.

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