Sustained negative investors’ sentiment on the equity sector of the Nigerian Stock Exchange (NSE) yesterday dragged the All-share index further by 0.24 per cent.


At the close of trading yesterday, the All Share Index (ASI) shed 74.3 absolute points, representing a dip of 0.24 per cent to close at 30,568.05 points.

Similarly, the market capitalisation shed N27 billion at N11.166 trillion.


The downturn was impacted by losses recorded in medium and large capitalised stocks, amongst which are; Seplat Petroleum Development Company, Nestle Nigeria, Nascon Allied Industries, Stanbic IBTC Holdings and Flour Mills Nigeria.

Analysts at Afrinvest Limited said: “We expect the domestic bourse to recover from yesterday’s negative performance on the final trading session of the week, in line with the undulating trend recorded throughout the week.”

Also reacting to market performance yesterday, the Managing Director of Investdata Consulting Limited, Ambrose Omodion said; “We expect this volatility to be sustained as bargain hunting and portfolio repositioning for year-end to shape performance of the market ahead of Santa Claus rally, as number of companies hitting new 52-week low are on the increased to reflect undervalue state of the market.


“The ongoing volatility will persist as Q3 numbers assist investors and fund managers re-balance their portfolios, while watching the political space and ahead of full year company earnings position and post-election market dynamics.

“These are likely to drive prices north, or south, while determining market direction before or after the Presidential Election.
Investors should review their positions in line with their investment goals, strength of the company numbers and act as events unfold in the global and domestic environment.”

Market breadth closed slightly negative with 20 gainers against 21 losers.

John Holt and AXAMansard Insurance recorded the highest price gain of 10 per cent, each to close at 44 kobo and N1.98, respectively, Forte Oil followed with a gain of 9.79 per cent, to close at N24.10 per share.

Newrest ASL Nigeria appreciated by 9.52 per cent to close at N6.90, while Union Bank went up by 8.33 per cent to close at N5.85, per share.

On the other hand, United Capital led the losers’ chart by 9.86 per cent, to close at N2.56 per share.

Seplat followed with a decline 9.83 per cent to close at N540, while Cutix depreciated by 9.64 per cent to close at N1.78 per share.

DAAR Communications declined by 9.09 per cent to close at 40 kobo, while champion Breweries down by 8.62 per cent to close at N1.59, per share. Investors traded a total share volume of 193.25 million valued at N3.7 billion in 2,950 deals.

FBN Holdings traded with 25.29 million shares valued at N182.97 million.

Access Bank followed with 24.1 million shares worth N179.55 million, while Fidelity Bank traded 18.74 million shares valued at N36.7 million.

Zenith Bank traded 17.65 million shares valued at N406.64 million, while Guaranty Trust Bank transacted 15.8 million shares worth N552.56 million.

https://www.akelicious.net/2018/12/volatility-persists-as-stock-market.html

Determinant of the market will always be unreliable as long as the terrible conditions of doing business in Nigeria remains the same!

It is a shame that we cannot even keep the price/flow of common petrol steady! What about the power sector? Nothing to write home about! If we continue in our selective systems of things based on tribe and religion, Nigeria will remain comatose! Just saying

G

Anybody body investing in the stock market now. OYO

Okay.

Meanwhile,

*ASK A NIGERIAN POLITICIAN WHAT THEY THINK ABOUT THIS HOT WEATHER CONDITION*

*Journalist*: What are your thoughts on this heat Nigerians are complaining about?

RESPONSES:

*LAI MOHAMMED*: this is the result of PDP’s misrule, they stole the ozone layer.

*FEMI ADESINA*: Mr. President promised us change and that includes change in temperature. CHANGE IS HERE, EMBRACE IT.

*AKINWUMI AMBODE*: We have signed a $10million deal with LG to install air conditioners across the Lagos skyline.

*IBE KACHUKWU*: I assure you the heat will disappear by 2pm,29th May.

*BUKOLA SARAKl*: Tinubu wanted the heat to be more than this but i opposed him, out of my love for Nigeria and that is why they are witch-hunting me.

*GOODLUCK JONATHAN*: This heat was not this bad when I left office/power but Nigerians did not appreciate me.

*ADAMS OSHIMOLE*: Ngozi Okonjo-Iweala stole the N100 billion meant for temperature control Research.

*NASIR EL RUFAI*:
We are in talks with General Electric to see how they can generate power for Kaduna from the heat.

*RAUF AREGBESOLA*:
I have just approved payment of January salary so that Osun workers can buy hand fan.

*ALIKO DANGOTE*: Next week, we are commissioning the Dangote Fan Factory; by 2030 Australia will be buying fans from us.

*BEN MURRAY-BRUCE: *tweets* when Naira is weak and inflation is high automatically there will be heat. This is common sense.

*NGOZI OKONJO-IWEALA*: Under the last administration there was no political will to address climatic change:

*PRESIDENT BUHARI: From USA* ... this heat is corrupt because Nigeria is corrupt and I will fight every form of corruption involved and responsible for this heat and every corrupt person responsible for this heat will go to jail.



Beware of Nigerian politicians .....lol

Don't worry. Everything will stabilise once Atiku wins

Everything is going down down...

Click like if u know atiku Will solve at least 50% of Nigeria problems...

There are things beyond our control at this point in our country. We need capable hands in the financial sector

Buhari has destroyed this country, an illiterate don't understand how economy works.

I Cnt Stop Laughing O, When I Saw Two
Lovers Talking & Chatting.
Boy; U Ar The Cockroach In My
Cupboard
Girl; U Ar The Sugar In My Tea
Boy; U Ar The Fish In My Pond
Girl; U Ar The Water In My Pool
Boy; U Ar The D**k In My Boxer
Girl; U Ar The Pu**y In My Pant
Boy; U Ar The Student In My School
Girl; U Ar The Books In My Library
Boy; U Ar The Kerosene In My Stove
Girl; U Ar The Petrol In My Car
Boy; U Ar The Ink In My Pen
Girl; U Ar The Disc In My Dvd.
I Dnt Knw The Winner O.
But We Boys lets Comment 4 The Guy By
Adding Urs Nd U Girls Comment 4 The Girl By Adding
Urs
So We Can See The Winner
Me: U Ar The Saliva In My Mouth

It's likely to go down further as price of crude oil may test $30 again next year.

nairaman66:
Determinant of the market will always be unreliable as long as the terrible conditions of doing business in Nigeria remains the same!

It is a shame that we cannot even keep the price/flow of common petrol steady! What about the power sector? Nothing to write home about! If we continue in our selective systems of things based on tribe and religion, Nigeria will remain comatose! Just saying

You are very correct, Sir!

nairaman66:
Determinant of the market will always be unreliable as long as the terrible conditions of doing business in Nigeria remains the same!

It is a shame that we cannot even keep the price/flow of common petrol steady! What about the power sector? Nothing to write home about! If we continue in our selective systems of things based on tribe and religion, Nigeria will remain comatose! Just saying

You’re saying nonsense

Political uncertainty is one of the factors,

[quote author=nairaman66 post=73828538]Determinant of the market will always be unreliable as long as the terrible conditions of doing business in Nigeria remains the same!

It is a shame that we cannot even keep the price/flow of common petrol steady! What about the power sector? Nothing to write home about! If we continue in our selective systems of things based on tribe and religion, Nigeria will remain comatose! Just saying[/quot

must you comment.
you dont understand how the market operate just keep quite.

How is a 0.24% drop a plunge?
How is that volatility?

Do you even know the meaning of those words

Another idiot jumps on the bandwagon to say Buhari has spoilt the country.
I wonder whether the dunce has bought a single share in their life.
Exactly 4 years ago the market took a very sharp downturn.

Buhari sef

nairaman66:
Determinant of the market will always be unreliable as long as the terrible conditions of doing business in Nigeria remains the same!

It is a shame that we cannot even keep the price/flow of common petrol steady! What about the power sector? Nothing to write home about! If we continue in our selective systems of things based on tribe and religion, Nigeria will remain comatose! Just saying

First of all you cannot speak English

what is "Determinant of the market/

Secondly what is unreliable determinant?

conditions REMAIN the same
NOT
REMAINS the same

What has the market got to do wit conditions of doing business.

and what has any of that got to with a 0.24% variation

How has the NASDAQ performed over the last 12 months compared to the NSE ??
What about th FTSE 100 OR THE DAX

You better keep quiet and stick to what you know

0monnak0da:

First of all you cannot speak English

what is "Determinant of the market/

Secondly what is unreliable determinant?

conditions REMAIN the same
NOT
REMAINS the same

What has the market got to do wit conditions of doing business.

and what has any of that got to with a 0.24% variation

How has the NASDAQ performed over the last 12 months compared to the NSE ??
What about th FTSE 100 OR THE DAX

You better keep quiet and stick to what you know

Apologies for my grammatical blunders as I was quite in a hurry while typing, blunders were caused due to autocorrect feature!!

Secondly, no need to be offensive in your comment. If you are privy to market values and conditions, you should know that there is relation between volatility of the market and government regulations!! The government of the day have been making bad decisions recently. Case in point of the current withdrawal of more than $1B from the treasury! If you don’t know this then you should go back to school.

There are other factors which causes volatility of the market which includes: Economic indicators, public relations and disasters, volatility oversea and so on.

I only tried to relate the current situation of the country to the news and I believe you have bad comprehension skills that’s why you attacked me in your comment.

Between you should try to be modest since no one knows all. Besides, you can’t put words together to form a sentence more than myself. Enjoy your day

Jonathan:

You’re saying nonsense

It wasn’t mean for people with bad comprehension skills. You appear to be among them!!

[quote author=Nwaohafia1 post=73828628]Okay.

Meanwhile,

*ASK A NIGERIAN POLITICIAN WHAT THEY THINK ABOUT THIS HOT WEATHER CONDITION*

*Journalist*: What are your thoughts on this heat Nigerians are complaining about?

RESPONSES:

*LAI MOHAMMED*: this is the result of PDP’s misrule, they stole the ozone layer.

*FEMI ADESINA*: Mr. President promised us change and that includes change in temperature. CHANGE IS HERE, EMBRACE IT.

*AKINWUMI AMBODE*: We have signed a $10million deal with LG to install air conditioners across the Lagos skyline.

*IBE KACHUKWU*: I assure you the heat will disappear by 2pm,29th May.

*BUKOLA SARAKl*: Tinubu wanted the heat to be more than this but i opposed him, out of my love for Nigeria and that is why they are witch-hunting me.

*GOODLUCK JONATHAN*: This heat was not this bad when I left office/power but Nigerians did not appreciate me.

*ADAMS OSHIMOLE*: Ngozi Okonjo-Iweala stole the N100 billion meant for temperature control Research.

*NASIR EL RUFAI*:
We are in talks with General Electric to see how they can generate power for Kaduna from the heat.

*RAUF AREGBESOLA*:
I have just approved payment of January salary so that Osun workers can buy hand fan.

*ALIKO DANGOTE*: Next week, we are commissioning the Dangote Fan Factory; by 2030 Australia will be buying fans from us.

*BEN MURRAY-BRUCE: *tweets* when Naira is weak and inflation is high automatically there will be heat. This is common sense.

*NGOZI OKONJO-IWEALA*: Under the last administration there was no political will to address climatic change:

*PRESIDENT BUHARI: From USA* ... this heat is corrupt because Nigeria is corrupt and I will fight every form of corruption involved and responsible for this heat and every corrupt person responsible for this heat will go to jail.



Beware of Nigerian politicians .....lol
NICE,SALUTE FOR THIS INSIGHT ON NIGERIAN POLITICS....UDO

nairaman66:


Apologies for my grammatical blunders as I was quite in a hurry while typing, blunders were caused due to autocorrect feature!!

Secondly, no need to be offensive in your comment. If you are privy to market values and conditions, you should know that there is relation between volatility of the market and government regulations!! The government of the day have been making bad decisions recently. Case in point of the current withdrawal of more than $1B from the treasury! If you don’t know this then you should go back to school.

There are other factors which causes volatility of the market which includes: Economic indicators, public relations and disasters, volatility oversea and so on.

I only tried to relate the current situation of the country to the news and I believe you have bad comprehension skills that’s why you attacked me in your comment.

Between you should try to be modest since no one knows all. Besides, you can’t put words together to form a sentence more than myself. Enjoy your day

You really have no clue and should confine yourself to what you know.
First of all how is a 0.24% daily change a sign of volatility? What volatility?

Tell me which country in the world has had its stock market perform well over the last 12 months

Has the FTSE 100 in the UK or the DAX in Germany performed better than NSE in Nigeria.

the link between economic performance and stock market performance is spurious

0monnak0da:

You really have no clue and should confine yourself to what you know.
First of all how is a 0.24% daily change a sign of volatility? What volatility?

Tell me which country in the world has had its stock market perform well over the last 12 months

Has the FTSE 100 in the UK or the DAX in Germany performed better than NSE in Nigeria.

the link between economic performance and stock market performance is spurious

You are contracditing yourself! You don’t even know what VOLATILITY means! A big shame!! Since you are better than all the commentators/stock analyst go get yourself a beer!

By the way, most achievements by the NSE are only on paper and beer parlor joints! It’s gains have not been reflective on the economy mr John Doe!!

0monnak0da:

You really have no clue and should confine yourself to what you know.
First of all how is a 0.24% daily change a sign of volatility? What volatility?

Tell me which country in the world has had its stock market perform well over the last 12 months

Has the FTSE 100 in the UK or the DAX in Germany performed better than NSE in Nigeria.

the link between economic performance and stock market performance is spurious

shaking my head for you

nairaman66:


You are contracditing yourself! You don’t even know what VOLATILITY means! A big shame!! Since you are better than all the commentators/stock analyst go get yourself a beer!

By the way, most achievements by the NSE are only on paper and beer parlor joints! It’s gains have not been reflective on the economy mr John Doe!!

what is volatility

please tell us