Stock market loses N150bn in week ended Dec. 10

Out of the N692.20billion worth of equities traded in Q1, only N128.91billion was by foreign investors while N563.29billion was by domestic investors.

In the trading week ended Friday December 10, stocks listed on the Nigerian Exchange lost about N150billion amid mixed trading sessions of losses and gains. The week closed with three (3) days of gains and two (2) days of losses.

The stock market was down by 0.68percent in the review week, largely driven by sell pressure in industrial stocks. The Nigerian Exchange Limited (NGX) Industrial Index (-5.42percent) was the sole laggards in the week.

Other key performance indices closed the week in green: NGX Banking Index (+5.55percent), Consumer Goods Index (+0.11percent), Oil & Gas Index (+1.27percent), and Insurance Index (+1.24percent).

The Nigerian Exchange Limited (NGX) All-Share Index and Market Capitalisation which opened the review week at 42,167.91 points and N22.003trillion respectively stood lower at 41,882.97 points and N21.854trillion at the close of trading on Friday, December 10.

The record positive close (+0.47percent) on Friday December 10 helped push the equities market positive return higher to 4 percent year-to-date (YtD).

Iheanyi Nwachukwu

Iheanyi Nwachukwu, is a creative content writer with over 18 years journalism experience writing on banking, finance and capital markets. 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).

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