Nigeria’s stock market opened the month of December in red. The market which decreased by 1.81percent or about N409billion on Wednesday December 1 has reduced this year’s positive return to +5.44percent.

The record dip was fueled by investors who sold stocks like MTNN, Africa Prudential, UPDC and others.

MTNN dipped most on the Bourse, from preceding day’s high of N190 to N171, losing N19 or 10percent.

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It was followed by Africa Prudential which decreased from preceding day’s N6.50 to N6, shedding 50kobo or 7.69percent while UPDC decreased from N1.07 to 99kobo, losing 8kobo or 7.48percent.

At the close of trading session on Wednesday, the Nigerian Exchange Limited (NGX) All-Share Index (ASI) and Market Capitalisation moved down from preceding day’s highs of 43,248.05 points and N22.566trillion respectively to
42,463.16 points and N22.157trillion.

In 3,891 deals, investors exchanged 335,480,224 shares valued at N3.552billion. FBN Holdings, Universal Insurance, Zenith Bank, GTCO and Transcorp were most traded stocks on Wednesday at the Nigerian Exchange Limited (NGX).

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By Iheanyi Nwachukwu • December 2, 2021

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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