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Despite improved earnings and dividend announcements from listed companies, uncertainty in the global economy, coupled with prevailing macroeconomic challenges in Nigeria, especially insecurity and low purchasing power, the 2023 election fear has continued to take a toll on the equities sector of the Nigerian Exchange Limited (NGX). Investors have lost N283 billion or 1.07 per cent of the market value in the month of August.

Specifically, the overall market capitalisation of listed companies closed on August 31, 2022 at N26.880 trillion from N27.163 trillion when it opened for trading in August 2022.

 Similarly, the NGX All-Share Index depreciated by 1.07 per cent to close at 49,836.51 basis points on August 31, 2022 from 50,370.25 basis points it opened for the month trading.

Source: The Skuup