Stock investors book N532bn loss in one week

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In the trading week ended Friday March 21, Nigeria’s stock investors booked about N532billion loss as sustained sell pressure kept activities at the local bourse subdued.

The stock market decreased by 0.94 percent in the review trading week, while this month the market has decreased by 2.65percent. This year’s return also moderated to +1.98 percent as at Friday March 21.

Industrial, banking, insurance, oil & gas stocks were mostly sold while consumer goods stocks were mildly on demand at the NGX.

The Nigerian stock market recorded just one day of positive as against four days of negative closes, defying analysts cautious optimism that bargain hunters will emerge in the week under review.

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The Nigerian Exchange Limited (NGX) All-Share Index (ASI) and equities market capitalisation which started the week at 105,955.13 points and N66.351 trillion respectively closed at 104,962.96 point and N65.819trillion.

TAGGED:bdothernews Nigerian Exchange Limited (NGX)stock investors

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ByIheanyi Nwachukwu

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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.