The bears continued to dominate transactions on the equity sector of the Nigerian Stock Exchange (NSE), as most blue chip stocks depreciated in price, causing the All-share index to plunge further by 0.6 per cent.

Yesterday, the All- share index shed 215.52 points, representing a decline of 0.58 per cent to close at 36,748.18 points. Also, the market capitalisation declined by N78billion to close at N13.312trillion.

The negative sentiment was impacted by losses recorded in medium and large capitalised stocks, amongst which are; Guaranty Trust Bank, Okomu Oil, FBN Holdings, Oando, and Nigerian Breweries.

Analysts from Cordros Capital, said: “in our view, the continued sell-offs call for cautious trading among investors, amidst absence of a near-term one-off positive catalyst in the short to medium term. However, still-positive macro-economic fundamentals remain supportive of gains on the long term.”

The Chief Research Officer, Investdata Consulting, Ambrose Omodion, said: “Reversal is imminent if more positive Q2 earnings reports hit the market today, considering undervalued state of equities and high yields. Investors should review their position in line with their investment goals and act as events unfold in the global and domestic environment.”

Market breadth closed negative, with 20 gainers versus 23 losers. Continental Reinsurance recorded the highest price gain of 10 per cent, to close at N1.65, while PZ Industries followed with a gain of 9.74 per cent to close at N16.90 per share.

International Breweries appreciated by 9.33 per cent to close at N41, while Japaul Oil and Maritime Services, and McNichols gained 9.09 per cent each to close at 36kobo and 72kobo per share, respectively.

On the other hand, FBN Holdings led the losers’ chart by 9.76 per cent, to close at N9.25, while Oando followed with a loss of 9.52 per cent to close at N4.75, per share.
Wema Bank declined by 8.82 per cent to close at 62kobo, while Caverton Offshore Support Group, and Consolidated Hallmark Insurance shed 7.14 per cent each to close at N1.95, and 26kobo per share, respectively.

Also, total volume traded depreciated by 11.05 per cent to 181.28 million shares worth N1.64billion, traded in 3,854 deals. Transactions in the shares of Transnational Corporation of Nigeria (Transcorp) topped the activity chart with 16.77 million shares valued at N20.64million. Zenith Bank followed with 15.15 million shares worth N361.67million, while Fidelity Bank traded 14.94 million shares valued at N29.79million.Oando traded 11.12 million shares valued at N53.63million, while Access Bank transacted 10.69 million shares worth N106.98million.

http://www.akelicious.net/2018/07/stock-market-index-dips-further-by-06.html

Buhari is the cause of all these..

The stock market is just too complicated

Who ehelp

I won ask one question, say i put my money for Nigerian stock and say i use play bet9ja which one for better for me?

the stock market is the greatest con since tax.

dingbang:
Buhari is the cause of all these..

Mumu, this is the stock market. It's now I lnow some of you are just joining the bandwagon to shout Lughari for likes.

Admin401:


Mumu, this is the stock market. It's now I lnow some of you are just joining the bandwagon to shout Lughari for likes.

guy easy o... No kill yourself

Simply loss of confidence by investors. The only way investors know how to protest is by moving their funds to safer havens.

I know just understand this stock thing. And I hear say na the fastest way to turn millionaire

Oando already having stock losses and haven't paid Ansbury the $680m arbitration award.. Something bad might hit them

Real Estate market is far more reliable, though both markets has advantage.

MISEDUCATIONS:
the stock market is the greatest con since tax.

greatest wealth creator you mean

Investor confidence is at all time low. The system is not working.

Bad time to sell, good time to buy

But if it falls any lower then the results won't be sexy.

MIKOLOWISKA:
greatest wealth creator you mean

thats the point. creating wealth for who?

Gambling camp.

MISEDUCATIONS:
thats the point. creating wealth for who?

for those who want it. No food for lazy man

MIKOLOWISKA:
for those who want it. No food for lazy man

so you think african poverty is because of laziness?

MISEDUCATIONS:
so you think african poverty is because of laziness?

i don't think
I know

MIKOLOWISKA:
i don't think
I know

you and buhari will make good ignorant small-brained friends

MISEDUCATIONS:
you and buhari will make good ignorant small-brained friends

if we can rule and slaughter you with ''small brain ''
I wonder what you have between your ears, gap or relaxer

MIKOLOWISKA:
if we can rule and slaughter you with ''small brain ''
I wonder what you have between your ears, gap or relaxer

you took too long

MISEDUCATIONS:
you took too long

I'll take as long as I damn well please

MIKOLOWISKA:
I'll take as long as I damn well please

pls do. but no one will be here to take your call

MISEDUCATIONS:
pls do. but no one will be here to take your call

who gives a sht so long as I have achieved my goal