At the close of trading on Thursday, Nigeria’s equities market decreased further by 0.09percent or N35billion as investors expectedly trade cautiously amid absence of any major positive catalyst to drive up sentiments.

The stock market’s key performance indicators – Nigerian Exchange Limited (NGX) All-Share Index (ASI) and equities market capitalisation decreased from preceding trading day’s highs of 68,335.72 points and N37.400trillion respectively to 68,271.14 points and N37.365trillion.

The market’s negative close on Thursday pushed down the return year-to-date (YtD) to 33.21percent.

Though the market has risen this week and this month by 1.30percent and 2.59percent respectively.

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Read also: Stock market decreases by 1.10% in week ended Sept.15

Universal Insurance, Oando, Access Corporation, Japaul Gold and UBA were actively traded stocks as investors in 7,949 deals exchanged 1,123,849,269 shares valued at N5.818billion.

Oando led the group of decliners after its share price lowered from N14.60 to N13.15, down by N1.45 or 9.93 percent. Lasaco followed after dropping from N2.06 to N1.86, down by 20kobo or 9.71percent.

Chams also dipped from N1.46 to N1.32, down by 14kobo or 9.59 percent. NNFM was down from N16.80 to N15.25, losing N1.55 or 9.23 percent.

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By Iheanyi Nwachukwu • September 22, 2023

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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