As Nigeria continue to grapple with economic challenges, the equities market has maintained a downward slide with investors’ wealth dwinddling by a whopping N1.69 trillion in just three months.
THISDAY analysis of market activity from June to August 2022 revealed that for the month of August, the stock market depreciated by N283billion in market capitalisation, while in July, the market capitalisation went down by N772 billion as investors move to fixed income market that comes with low-risk investment and modest yield, yet above the inflation rate.
The stock market had depreciated by N632.23billion in June to N27.94trillion in market capitalisation.
In terms of tracking the general market movement of all listed equities on NGX, including those listed on the Growth Board, regardless of capitalization, the stock market in August dropped by 1.06 per cent to close at 49,836.51 basis points amid investors’ sentiments.