By Dipo Olowookere

The heating up of the political terrain in the country is gradually having a negative effect on the Nigerian stock market, Business Post reports.

During the just-concluded trading week, the Nigerian Stock Exchange (NSE) lost about N416 billion as a result of huge selling pressure at the market.

Analysts had predicted that trading during the week would be positive as a result of improving macroeconomic indices in the domestic space, especially with the further ease in the inflation rate, positive GDP growth, passage of the 2018 budget and retention of the interest at 14 percent by the apex bank.

However, these did nothing to drive the equity market up last week as the stock market did not record any single rise throughout last week.

This was attributed to profit-taking activities by investors, especially foreign investors, who are parts of the major drivers of the local bourse. It was observed that foreign investors are reassessing their portfolio compositions so as to limit their losses as a result of political intrigues in the country ahead of the 2019 general elections.

Business Post reports that at the close of transactions last week, the All-Share Index (ASI) depreciated by 2.84 percent to settle at 39,323.62 points, while the market capitalization decreased by N416 billion to finish at N14.244 trillion against its previous close of N14.660 trillion.

During the week also, a total of 14 equities appreciated in price, lower than 20 in the previous week, while 61 stocks depreciated in price, higher than 54 equities of the previous week, and 94 counters remained unchanged, lower than 95 recorded in the preceding week.

A total turnover of 1.372 billion shares worth N16.022 billion in 21,099 deals were traded last week by investors on the floor of the exchange in contrast to a total of 1.457 billion shares valued at N23.666 billion that exchanged hands the previous week in 19,674 deals.

It was further observed that the Financial Services Industry, measured by volume, led the activity chart with 1.010 billion shares valued at N8.670 billion traded in 12,049 deals; thus contributing 73.62 percent and 54.11 percent to the total equity turnover volume and value respectively.

The Services Industry followed with 107.246 million shares worth N229.715 million in 712 deals, while the third place was occupied by Consumer Goods Industry with a turnover of 71.946 million shares worth N5.506 billion in 3,818 deals.

Trading in the top three equities; Zenith Bank, African Alliance Insurance Company and Ikeja Hotel, measured by volume, accounted for 276.876 million shares worth N2.939 billion in 2,112 deals, contributing 20.18 percent and 18.35 percent to the total equity turnover volume and value respectively.

The top gainer for the week was Ikeja Hotels, which rose by 44.94 percent to settle at N2.58k per share.

It was followed by MRS Oil Nigeria, which appreciated by 21.18 percent to finish at N36.05k per share, and Law Union and Rock Insurance, which increased by 20.99 percent to close at 98k per share.

Niger Insurance grew by 19.05 percent to end at 25k per share, while Consolidated Hallmark Insurance increased by 11.11 percent to finish at 30k per share.

On the flip side, Eterna closed the week as the worst performing stock after shedding 22.27 percent of its value to close at N5.27k per share.

It was trailed by Japaul Oil, which went down by 20 percent to end at 24k per share, and Dangote Flour, which decreased by 16.82 percent to close at N8.90k per share.

Transcorp declined by 16.35 percent to close at N1.33k per share, while AIICO Insurance fell by 16.18 percent to end at 57k per share.

Also traded during the week were a total of 70 units of Exchange Traded Products (ETPs) valued at N1,943.00 executed in 7 deals, compared with a total of 153,246 units valued at N4.009 million that was transacted in the preceding week in 22 deals.

In addition, a total of 10,754 units of Federal Government bonds valued at N11.412 million were traded during the week in 5 deals, compared with a total of 7,508 units valued at N7.506 million transacted in the previous week in 12 deals.

https://www.businesspost.ng/2018/05/27/nigerian-stock-market-loses-n416b-in-one-week-amid-political-anxiety/

How does this huge money figures benefit the average Nigerian,we only hear big big figure only in looting or unaccomplished huge projects, yet no benefit.

The earlier we return to regionalism the better.

Sai baba forever

Stop blaming Ramos

Kai baba

Trending Alarm for stock dealers,
Soon.. Market will rise,

One thing i know is Nigeria will be great again, Someday, Some years, don't know when but, im certain..
My beloved Nigeria will be great again

*Modified*


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Anything that Buhari touches turns into failure.
Fuel price increase.
Exchange rate increase.
Terrorists increase.
Inflation increase.
Buhari is a monumental error of gargantuan proportions that must be corrected in 2019!
Do you have your PVC ready and does everyone around you have their PVCs ready

Let it lose everything.

Buhari again

No doubt President Buhari has failed in governance, he lack the mental capacity and drive to administer a modern Nigeria. Let us Take Nigeria back from analogue leadership
#Sowore2019

https://www.youtube.com/watch?v=iq4Cwz3Pca8

Nigerian Stock Market - Low trade persists at the exchange

that means we Nigerians are in soup right?

Buhari why?

Zane2point4:
How does this huge money figures benefit the average Nigerian,we only hear big big figure only in looting or unaccomplished huge projects, yet no benefit.

The earlier we return to regionalism the better.

Go to investment section,you will see average Nigerians like you who benefit from these huge figures.
Search for threads on NSE pick alerts,MF and NTB,etc ... I decided to use abbreviations so that whoever goes in search of those threads would subtly pay some dues by searching...

Zane2point4:
How does this huge money figures benefit the average Nigerian,we only hear big big figure only in looting or unaccomplished huge projects, yet no benefit.

The earlier we return to regionalism the better.

You are not so bright, are you?

olaniyi50:


You are not so bright, are you?

I understand your question;the masses are always quick to think that everyone is in the same boat with them..

eezeribe:

I understand your question;the masses are always quick to think that everyone is in the same boat with them..

I meant "you really don't know much about the stock market" do you?

tsamson:
Trending Alarm for stock dealers,
Soon.. Market will rise,

One thing i know is Nigeria will be great again, Someday, Some years, don't know when but, im certain..
My beloved Nigeria will be great again

*Modified*


Please Lets Support Our Own Person

I hear people say Nigeria will be great again
Was Nigeria ever great

This stock thing is just rich people problem, the message is thst, some rich people decided to withdraw their money from business and keep it because they are afraid they might start making loses in the future.

ajibolabd:
Stop blaming Ramos

Forget the hypocrisy of Nigerians,when I was little , there was this African nations cup match between Algeria and Nigeria,a Nigerian player was given a red card and Algeria had an upper hand,but one of our defenders Sunday Eboigbe(can't forget him) , totally destroyed the Algerian most dangerous striker called Medane,s right knee,as in removed the knee! the referee did not see it ,and Algeria had made their three changes and the game balanced at 10 against 10........Nigerians , including my late Dad,celebrated someone getting butchered on the field of play like a goal.

Lost to N416 billion to which persons account?

u tiredoflife:


I hear people say Nigeria will be great again
Was Nigeria ever great

Please watch this and know whether Nigeria was ever great


https://www.youtube.com/watch?v=YT5m9Fn9RBg

Zane2point4:
How does this huge money figures benefit the average Nigerian,we only hear big big figure only in looting or unaccomplished huge projects, yet no benefit.

The earlier we return to regionalism the better.

/*

There are 4 groups involved:
1. The people making money
2. The people losing money.
3. The people who love to complain.
4. The folks who don't care.

Kindly read group 3 again.

/

Idiotic pigs of biamumus will agree with the loss 100 percent because they grow fat on bad news so that they can insult buhari. The other time when gain was reported, the same idiotic pigs of biamumus were demanding for pictures and at the same time asking how it affects the common man and in the end, the pigs said it was a cooked story so that they can still insult buhari. Good or bad, the idiotic pigs of biamumus must insult buhari because they are cursed animals.

ExpiredNigeria:
Let it lose everything.

Are you ok?

eezeribe:

Go to investment section,you will see average Nigerians like you who benefit from these huge figures.
Search for threads on NSE pick alerts,MF and NTB,etc ... I decided to use abbreviations so that whoever goes in search of those threads would subtly pay some dues by searching...

Help me tell am o

fear of loss is the beginning of wisdom.

Mr dipoolowoo and business day, please let's be very careful with the kind of Journalism we practise. Emerging markets worldwide have been tanking since rates increased in the US. Rates in American securities are around 3.1% now, the highest since 2012. Emerging markets like Egypt, Argentina and South Africa have been feeling the heat from FPI withdrawals since February. Nigeria just started feeling it last month. The naira is now falling on the I&E window even with increasing reserves, which is unusual.
We don't hear South Africans or Argentinians playing politics with simple international economics. It's stupid Nigerians that always turn something so simple upside down. Are you telling me that out of 180million Nigerians, nobody opens Bloomberg.com or watches CNBC? Or even CNN money? It's just shameful!

SBG04:
Mr dipoolowoo and business day, please let's be very careful with the kind of Journalism we practise. Emerging markets worldwide have been tanking since rates increased in the US. Rates in American securities are around 3.1% now, the highest since 2012. Emerging markets like Egypt, Argentina and South Africa have been feeling the heat from FPI withdrawals since February. Nigeria just started feeling it last month. The naira is now falling on the I&E window even with increasing reserves, which is unusual.
We don't hear South Africans or Argentinians playing politics with simple international economics. It's stupid Nigerians that always turn something so simple upside down. Are you telling me that out of 180million Nigerians, nobody opens Bloomberg.com or watches CNBC? Or even CNN money? It's just shameful!

Guy, I am not like the rest. Guy, there are Nigerians who know the markets more than you even. I know the day you speak of. I made upwards of 3x my cash on the day American yields were flying. Anyways, for what it's worth, I thank God for people like you who understand the role of the markets in the global economy.