The two-week long bullish performance in the Nigerian stocks market came to a halt last week as investors lost N506 billion despite broadly positive corporate releases during the week. The All Share Index plunged 1,231 points or 2.85 per cent week-on-week to close at 41,935.90 points while year-to-date return declined to 9.66 per cent. Also, investors lost N506 billion in value as market capitalisation fell to N15.002 trillion. Capital market analysts attributed the bearish performance of last week to sell pressures in bellwethers in the Banking and Consumer Goods sectors such as Zenith Bank, Nestle and Guaranty Trust Bank, which all released impressive results for full year, 2017. Performance across sectors was largely negative as all indices closed in the red save the Insurance index, which inched 0.25 per cent higher on the back gains in NEM Insurance and Mansard Insurance. The Banking index led laggards, down 8.35 per cent dragged by profit taking in UBA, Zenith Bank and Access Bank. The Oil and Gas and Consumer Goods indices trailed with a decline of 1.64 per cent and 1.59 per cent, respectively as investors sold off positions in Conoil, Seplat, Unilever Nigeria and Dangote Sugar. Similarly, sell offs in CCNN and Dangote Cement drove the negative performance of the Industrial Goods index week-on-week down by 0.24 per cent. Market breadth for the week closed negative with 25 gainers as against 60 losers. Associated Bus Company led the gainers by 14.29 percent increase to close at 48 kobo per share. John Holt followed with a gain of 12.50 percent to close at 54 kobo, while NEM Insurance appreciated by 11.57 percent to close at N2.70 per share On the other hand, Japaul Oil led the losers table by 30.93 percent to close at 67 kobo per share. Fidelity Bank declined by 22.48 percent to close at N2.31, while Unity Bank shed 21.51 percent to close at N1.35 per share. Similarly, activity level softened as weekly volume and value traded declined 8.29 per cent and 20.56 per cent to 2.444 billion shares worth N36.665 billion in 26,712 deals. Outlook For This Week This week, analysts expected bullish activity in the market as investors re-position to take advantage of the lower prices amid good corporate results released last week. Analysts at Cordros Capital Limited said, “Despite the loss recorded last week, we reiterate our positive outlook for the equities market, as strengthening macroeconomic fundamentals suggest legroom for gains still exist.” Analysts at Afrinvest Limited noted that “although the market performed negatively last week, we believe this has created bargain hunting opportunities. Hence, we expect a rebound in the market as investors take position in fundamentally sound stocks that declined.”

http://www.akelicious.net/2018/03/investors-lose-n506bn-despite.html

Finally the day has come.... FTC



*dancing Shaku shaku*



PS : it's my birthday

People wey understand economic jagon make una com explain

Meanwhile, PMB promised to improve the economy, solve our security problems and tackle corruption. The economy is still in shambles with dollars exchanging for N360 to $1. Prices of everything has skyrocketed. Inflation is so high and this has shrunk our middle class. The current security situation is appalling! Boko haram are still abducting innocent girls at will, Fulani herdsmen are busy ransacking homes and farmlands, extra judicial killings by police officers has risen, yet we have a president whom some idiots would want to prove a point that he is working! How about corruption? The government is rocked by scandals! Monies being swallowed by animals, Nigeria has dropped on the transparency index list, NNPC Baru scandal, Mainagate, Grassscutter scandal, Missing NIA monies, NHIS boss scandal, arm deal, subsidy scandal, etc! Any idiot who still beats his chest and says PMB is working is grossly stupid!

naija !!

A market where only 9% of stock are performing. I pity nigeria

Are you sure that the earlier impressive result released is true. Or where you releasing it to impress the Daura cow and also deceive his zombie fellow to think that things are getting better. What goes around comes around

Its unfortunate how our ignorance of financial analysis has given some opportunist to ride on our ignorance. I was still not impressed seeing the declaration of Zenith with abitrar and unsolicited deductions yet in a whole year dividends of #2.45k.....
It is well with Nigeria.

Buhari is working.

Three cheers for the dullard of Daura !!!

On another note, these analysts keep talking of 'bargain hunting', 'fundamentally sound stock' and all that nonsense. Truth is, the Nigerian economy is in tatters, people are poor and companies are retrenching daily.

There is nothing fundamentally strong about the economy.

Buhari is working

OBAGADAFFI:

Are you laughing at the loss?

Anybody that is into stock exchange is likely to develop HBP especially Nigerian stock exchange.

The people benefiting in the so called boom are the banks who" rob Peter to pay Paul"


Nothing is happening in the manufacturing sector which is the bedrock of economic growth and employment

No surprises here. Criminals.

Lol... Politics can be sweet and exciting at times. I can see some people on this thread who just a few weeks ago were totally dumb and depressed when there were consecutive reports of the Nigerian stock market doing very well in global rankings, these lot have suddenly found their voice and their feet. I can feel their excitement at this negative report from thousands of miles away.

obailala:
Lol... Politics can be sweet and exciting at times. I can see some people on this thread who just a few weeks ago were totally dumb and depressed when there were consecutive reports of the Nigerian stock market doing very well in global rankings, these lot have suddenly found their voice and their feet. I can feel their excitement at this negative report from thousands of miles away.

The stock market is still very very high and doing okay.

Jhayson:
Finally the day has come.... FTC



*dancing Shaku shaku*



PS : it's my birthday

Happy birthday; birthday boy!
Long life and sound health.

uyplus:
Meanwhile, PMB promised to improve the economy, solve our security problems and tackle corruption. The economy is still in shambles with dollars exchanging for N360 to $1. Prices of everything has skyrocketed. Inflation is so high and this has shrunk our middle class. The current security situation is appalling! Boko haram are still abducting innocent girls at will, Fulani herdsmen are busy ransacking homes and farmlands, extra judicial killings by police officers has risen, yet we have a president whom some idiots would want to prove a point that he is working! How about corruption? The government is rocked by scandals! Monies being swallowed by animals, Nigeria has dropped on the transparency index list, NNPC Baru scandal, Mainagate, Grassscutter scandal, Missing NIA monies, NHIS boss scandal, arm deal, subsidy scandal, etc! Any idiot who still beats his chest and says PMB is working is grossly stupid!

this is not in line with this thread. this is absolute nonsense.
it's only thread like this very one one would see less comment.