In the last nine months, investors in Nigeria’s stock market have gained over N4.15 trillion. This is coming amidst inflationary pressure which stood at 20.52 percent.
On monthly performance, the investors lost over N324 billion in the month of September 2022, as a result of sell-off pressure arising from the rising inflation rate, increased Monetary Policy Rate, MPR, market sentiments, and other macroeconomic headwinds.
In the month of September the equities market, represented by the NGX All Share Index, ASI, dropped by 1.6 % or 812.05 points from 49,836.21 points it closed in August.
Data according to the Nigerian Exchange Limited at the end of trading revealed that the market capitalisation which represents value of investments on the Exchange rose to N26.451 trillion from N22.296 trillion opening figure on the first trading day in 2022.
The ASI, which measures the entire market return, rose 14.8 per cent Year-to-Date, YtD, at 49,836.51 points from 42,716.24 points at the beginning of the year.
Meanwhile, trading last week revealed that cautious trading dominated the local bourse as ASI ended flattish at 49,024.16 points. Notwithstanding, Nestle Nigeria dropped 10.0% closing limit down and losses in Tier-1 banking stocks undermined the market’s performance.