In the trading week ended Friday, August 15, Nigeria’s stock market decreased by 0.77percent. The value of Nigeria’s listed equities also decreased by N713billion as profit taking activities resurface at the Nigerian Bourse.
In the review trading week, equities market recorded three days of negative closes as against two days of positives, as investors invade the local bourse in hunt for profit following weeks of rally.
Except NGX Insurance index, all other key sectoral indices closed the week in red.
The stock market’s return year-to-date (YtD) decreased to +40.52 percent. This month, the market has risen by 3.41 percent.
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The NGX Banking Index decreased by 0.23 percent; NGX Industrial Index (-0.83percent), NGX Consumer Goods Index (-0.94percent), NGX Insurance Index (+8.21 percent), and NGX Oil & Gas Index (-1.42 percent).
The National Bureau of Statistic (NBS) on Friday released Nigeria’s inflation report which shows headline inflation moderated to 21.88percent in July as against 22.22 percent in June the harvest season kicks in.
The Nigerian Exchange Limited (NGX) All-Share Index (ASI) and equities Market Capitalisation decreased from preceding week’s close of 145,754.91 points and N92.214 trillion to 144,628.2 points and N91.501trillion.
