Nigeria’s equities market closed in the red zone on Wednesday, its first decline this week as investors took profit from recent rally which had pushed the market to 15-year high.
The market decreased by 0.08 percent or N28billion, pushing the year-to-date (YtD) postive return lower to 29.64 percent.
The Nigerian Exchange Limited (NGX) All-Share Index (ASI) and equities market capitalisation decreased from preceding trading day’s highs of 66,490.34 points and N36.390trillion respectively to 66,439.56 points and N36.362trillion.
Read also: NGX ASI hits 15-year high
Transcorp, Access Corporation, Dangote Sugar, Jaiz Bank and Fidelity Bank were actively traded stocks as investors in 10,033 deals exchanged 637,193,765 shares worth N7.790billion.
Transcorp decreased most, from N7.01 to N6.31, losing 70kobo or 9.99 percent. It was followed by CWG which was down from N4.05 to N3.65, after losing 40kobo or 9.88 percent.
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Iheanyi Nwachukwu
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.
