However, on monthly performance, the investors lost over N282 billion of their in the month of August 2022, indicating a selling pressure arising from the rising inflation rate, market sentiments and other macroeconomic circumstances.

In the same vein, another equities market gauge, NGX All Share Index, ASI, which measures the entire market return rose 16.7 per cent to 49,836.51 points from 42,716.44 points at the end of December 2021.

Meanwhile, yesterday’s trading revealed that with just the Insurance Index closing in the red, the market halted this week’s bearish run, closing the last trading session of the month with 39 base points, bps, and gain. Among others, the drivers of the day’s positive close include BUA Foods which gained 448bps, Guinness 988bps, Wapco 460bps    and Fidelity Bank 229bps, while Unilever dropped by -722bps,    Nigerian Breweries -66bps and Zenith Bank (-23bps.

“However, in comparison with July’s 2.79%, the market was able to moderate the loss, as pockets of positive activity in large-cap names like Airtel Africa, BUA Foods and Nestle, improved performance.