Last week, 46 equities depreciated more than 33, while 100 equities remain unchanged. 11 equities appreciated during the week, lower than 25 equities in the previous week, on the price movement chart. The Nigerian Exchange (NGX) Domestic and Foreign Portfolio Report, reveals that the cumulative transactions in the domestic equities market rose by 22.5 per cent month-on-month (M/M). The rise was from N101.18 billion recorded as at July 2022, to N123.97 billion in August 2022. The average monthly gross transactions achieved in 2022, is N235.88 billion, and this figure does not measure up.
Reasons that could have brought about the depreciation are no flexible Foreign Exchange (FX) framework, higher outcome in the fixed income market, and lingering Foreign Exchange (FX) liquidity constraints.
