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.
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
