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Nairaland Forum / Nairaland / General / Business / Nigerian Equities Lose N467b Friday As Panic Selling Persists (8201 Views)
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Nigerian Equities Lose N467b Friday As Panic Selling Persists by dipoolowoo: 12:20am On Jun 02, 2018 |
By Dipo Olowookere The Nigerian Stock Exchange (NSE) continued its downward movement on Friday as the equity market sank deeper by 3.38 percent with the year-to-date gain shrinking to -3.73 percent. Business Post reports that the All-Share Index (ASI) suffered its heaviest loss this year after going down by 1288.25 points to finish at 36,816.29 points, while the market capitalisation depreciated by N466.6 billion to settle at N13.336 trillion. Also, the volume of equities transacted by investors at the market decreased by 68.05 percent, while the value declined by 89.89 percent. A total of 516.8 million shares were sold on Friday in 5,031 deals worth N7.2 billion compared with the 1.6 billion equities traded on Thursday in 5,166 deals valued at N71.2 billion. It was observed that the Financial Services sector led the activity chart with 458 million shares transacted for N5 billion with the Consumer Goods sector following with 21.4 million shares exchanged for N1.7 billion. On the price movement chart, Nestle Nigeria emerged the biggest price loser after losing N42.50k to close at N1430 per share. It was followed by Dangote Cement, which fell by N17 to finish at N223 per share, and Total Nigeria, which declined by N10.30k to settle at N201.70k per share. Guinness Nigeria depreciated by N5 to end at N95 per share, while Nigerian Breweries decreased by N4.90k to close at N103 per share. At the other side, CCNN topped the gainers’ table at the close of business on Friday, going up by N1.30k to end at N27.95k per share. It was trailed by Access Bank, which increased by 55k to close at N10.95k per share, and Eterna, which went up by 30k to finish at N6.33k per share. UBA grew by 20k to close at N11 per share, while Fidelity Bank appreciated by 9k to settle at N1.99k per share. https://www.businesspost.ng/2018/06/02/nigerian-equities-lose-n467b-friday-as-panic-selling-persists/ |
Re: Nigerian Equities Lose N467b Friday As Panic Selling Persists by lawrence35(m): 7:22am On Jun 02, 2018 |
The NSE needs God at this point, my stock value is next to nothing now, compared to how much I invested. Start your ecommerce business now, sale products from AliExpress and make huge profit. See how https://www.nairaland.com/4505379/what-dropshiping-how-make-3500 |
Re: Nigerian Equities Lose N467b Friday As Panic Selling Persists by Esomchi800(m): 7:22am On Jun 02, 2018 |
Hmm Dem dey give wahala problem 1 Like |
Re: Nigerian Equities Lose N467b Friday As Panic Selling Persists by Nobody: 7:22am On Jun 02, 2018 |
Just be loosing money here and there!
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Re: Nigerian Equities Lose N467b Friday As Panic Selling Persists by Nobody: 7:22am On Jun 02, 2018 |
I will read later |
Re: Nigerian Equities Lose N467b Friday As Panic Selling Persists by abokibuhari: 7:22am On Jun 02, 2018 |
When you get a useless president presiding the affairs of the nation 13 Likes |
Re: Nigerian Equities Lose N467b Friday As Panic Selling Persists by omenti(m): 7:23am On Jun 02, 2018 |
Re: Nigerian Equities Lose N467b Friday As Panic Selling Persists by Nobody: 7:23am On Jun 02, 2018 |
No be today, it will bounce back. 2 Likes |
Re: Nigerian Equities Lose N467b Friday As Panic Selling Persists by omenti(m): 7:24am On Jun 02, 2018 |
Re: Nigerian Equities Lose N467b Friday As Panic Selling Persists by Nobody: 7:24am On Jun 02, 2018 |
Ok |
Re: Nigerian Equities Lose N467b Friday As Panic Selling Persists by rozayx5(m): 7:25am On Jun 02, 2018 |
Playground for the filthy rich Where billions are made in minutes 1 Like |
Re: Nigerian Equities Lose N467b Friday As Panic Selling Persists by alezzy13: 7:25am On Jun 02, 2018 |
Oga Dipo, I expected to see an analysis of why this is happening. What exactly is triggering this downward spiral? 6 Likes |
Re: Nigerian Equities Lose N467b Friday As Panic Selling Persists by Moghalu4Pres: 7:28am On Jun 02, 2018 |
Nigeria really needs an economist like Kingsley Moghalu. 2019 is for Moghalu. Young Progressive Party 2019. 11 Likes 1 Share
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Re: Nigerian Equities Lose N467b Friday As Panic Selling Persists by Nobody: 7:29am On Jun 02, 2018 |
Coming after IPOB sit-at-home that lost Nigeria 220 billion naira, now another loss? Ipob has finished this country! What will Hausa-Fulani and Afonjas do now? Where will they get money to eat? 11 Likes 2 Shares
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Re: Nigerian Equities Lose N467b Friday As Panic Selling Persists by Nobody: 7:32am On Jun 02, 2018 |
I don't understand.... |
Re: Nigerian Equities Lose N467b Friday As Panic Selling Persists by Nobody: 7:32am On Jun 02, 2018 |
If it was me that lost half of that money divided into 200 i would be in coma by now. 5 Likes |
Re: Nigerian Equities Lose N467b Friday As Panic Selling Persists by LastSurvivor11: 7:33am On Jun 02, 2018 |
When will anything good come from this buhari government? Tufiakwa 4 Likes
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Re: Nigerian Equities Lose N467b Friday As Panic Selling Persists by Dutchey(m): 7:36am On Jun 02, 2018 |
when are we going to gain self? |
Re: Nigerian Equities Lose N467b Friday As Panic Selling Persists by DaBullIT(m): 7:41am On Jun 02, 2018 |
who IS selling with Panic ? |
Re: Nigerian Equities Lose N467b Friday As Panic Selling Persists by ArcFresky(m): 7:41am On Jun 02, 2018 |
sean1000x: Chaiii, did you go to school at all? 1 Like |
Re: Nigerian Equities Lose N467b Friday As Panic Selling Persists by Daniel058(m): 7:42am On Jun 02, 2018 |
On WHAT PLATFORM IS NSE traded?? Coz I have never seen any on my Mt4... #pips_Hunter |
Re: Nigerian Equities Lose N467b Friday As Panic Selling Persists by Felixalex(m): 7:44am On Jun 02, 2018 |
Hmmm |
Re: Nigerian Equities Lose N467b Friday As Panic Selling Persists by Nobody: 8:07am On Jun 02, 2018 |
Daniel058:That Is because... Your broker do not offer Nigerian stocks 1 Like |
Re: Nigerian Equities Lose N467b Friday As Panic Selling Persists by Preciouscheer: 8:14am On Jun 02, 2018 |
Let professionals handle your project 1 Like
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Re: Nigerian Equities Lose N467b Friday As Panic Selling Persists by einsteino(m): 8:15am On Jun 02, 2018 |
How do i buy equities? |
Re: Nigerian Equities Lose N467b Friday As Panic Selling Persists by mayo47(m): 8:18am On Jun 02, 2018 |
alezzy13: Possible sell-off is significantly from the foreign portfolio investors as they want to sell off before embarking on summer holidays together with our political uncertainty 3 Likes |
Re: Nigerian Equities Lose N467b Friday As Panic Selling Persists by grandstar(m): 8:25am On Jun 02, 2018 |
Why arw shares crashing? Is or because of Buhari s election bid? Is it the jailing of Nyame and it's effect on money bags? Is just uncertainty about next year? Someone say something 1 Like |
Re: Nigerian Equities Lose N467b Friday As Panic Selling Persists by seguno2: 8:39am On Jun 02, 2018 |
Vibra: Our president waited for six months to nominate his useless ministers, whom he said are noisemakers. He ruined the biggest economy into recession. Foreign exchange rate went from N200 to over N500 before settling at N365. Loans have more than doubled under Buhari’s vision-less administration. Fuel price went from N87 to N145 yet there is scarcity. Etc, etc. I hope that you understand now. Buhari is on a mission to steal, to kill and to bury our country. Do you have your PVC ready? What of your family and friends? Do they also have their own PVCs 7 Likes |
Re: Nigerian Equities Lose N467b Friday As Panic Selling Persists by Nobody: 8:44am On Jun 02, 2018 |
This is the simple logic behind the fall.prices have been falling for quite sometime now. And to prevent a further loss( a further depreciation in value), investors will rather sell their shares than see their share value completely wiped out. So, everybody is trying to sell their shares at the same time.Thus supply is exceeding demand and further complicating the fall. The root cause or the trigger however is not that everybody is trying to sell off their shares at the same time. It is basically economics- our economies lack fundamentals(solely dependent on oil)...I learnt there was drop in oil price last week. Another reason is political...lack of FDI...low FPI,weak regulatory framework that scares foreign investors away, limited and lack of juicy and attractive investment classes, malfeasances (cases of insider information). Have we done anything about these things .No!.this is a viscious circle.Unless something is done, its gonna continue. To gain in this kind of environment you mist be very smart and quick. Don't buy and go and sleep. The market is information driven. As an investor, do not wait for your friend or others to sell before you sell.Be analytical and calculative at every market, macro and other external information. 4 Likes 1 Share |
Re: Nigerian Equities Lose N467b Friday As Panic Selling Persists by Nobody: 8:47am On Jun 02, 2018 |
If you want to make profit in the NSE, you must be INFORMED or lose everything. |
Re: Nigerian Equities Lose N467b Friday As Panic Selling Persists by Oceannaagent: 8:59am On Jun 02, 2018 |
Still prefer property investment, like the one currently selling, you can check my signature, to know more about The Oceanna. |
Re: Nigerian Equities Lose N467b Friday As Panic Selling Persists by aribisala0(m): 9:06am On Jun 02, 2018 |
The stock market goes up or down every single day. Those who know anything about stockmarket investing know this.This is the case all over the world. Do you know what happened in the US stock market this week and last week? Nigerian stocks are a good investment if you are investing for the future looking at 10 years or more. Then news like; it went up or down, are practically irrelevant to you Most people that commented on this thread should have been quiet. They have no clue |
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