Transactions on the equities sector of the Nigerian Stock Exchange (NSE) reversed the upward trend to close on a downturn yesterday, following price depreciation suffered by major highly capitalised stocks, causing market capitalisation to dip by N49 billion.

Specifically, at the close of transactions yesterday, , the All-Share Index (ASI) shed 135.32 absolute points or 0.35 per cent to close at 39,031.72 points. Also, the market capitalisation declined by N49 billion to close at N14.139 trillion.

The depreciation was impacted by losses recorded in medium and large capitalised stocks, amongst which are; Nigerian Breweries, Dangote Sugar, Zenith Bank, FBN Holdings and UBA.


Analysts attributed the drop in indices to profit taking by investors on the exchange. According to them, investors leveraged the price appreciation recorded in the past few days to recoup their investment.

Despite the decline, they reiterated that stock prices remain attractive, making room for bargain hunting in value stocks, amidst still-positive macro-economic fundamentals.

Further breakdown of yesterday’s trading showed that market breadth closed negative, with 20 gainers versus 22 losers. Japaul Oil recorded the highest price gain of 5.88 per cent, to close at 36 kobo per share. UAC Property followed with a gain of 4.98 per cent to close at N2.11, while Prestige Assurance rose by 4.92 per cent to close at 64 kobo per share.

Learn Africa gained 4.86 per cent to close at N1.51, while Equity Assurance appreciated 4.55 per cent to close at 23 kobo per share.

On the other hand, Diamond Bank led the losers’ chart by five per cent, to close at N1.52 per share. AIICO Insurance shed 4.62 per cent to close at 62 kobo, while Unity Bank depreciated by 4.35 per cent to close at 88 kobo per share.

Skye Bank declined by 3.95 per cent to close at 73 kobo and United Capital also shed 3.95 per cent to close at N3.16 per share.

However, the total volume traded appreciated by 33.68 per cent to 456.49 million shares, worth N4.13 billion, and traded in 3,517 deals. Transactions in the shares of UBA topped the activity chart with 90.62 million shares valued at N998.23 million. United Capital followed with 78.69 million shares worth N258.35 million, while Africa Prudential traded 72.1 million shares valued at N312.6 million.

Access Bank traded 26.28 million shares valued at N282.27 million, while African Alliance Insurance transacted 23.3 million shares worth N4.66 million.

http://www.akelicious.net/2018/06/profit-taking-takes-toll-on-exchange-as.html

Lemme drop this here:

Before you condemn people’s choice of lifestyle

Countless number of times, I have seen people try to portray the likes of Mark Zuckerberg, Bill Gates, Aliko Dangote e.t.c as rich people who don’t live a flashy lifestyle just because they don’t wear “Gucci” and all other designers considered as “flashy/classy” being worn by Hushpuppi and all other celebrities. I can’t help but laugh at their ignorance.

Taking the owner of Facebook as an example, they say he “ordinary plain grey T-shirts” despite having a net worth of over 72 billion USD. Have you ever tried checking out how much each of the T-shirt costs? In case you’re not informed, each of them costs around $300-$400 and he has lots and lots and lots of them. There are even rumors he doesn’t wear a T-shirt twice. So you can imagine how wearing $2100-$2800 worth of “ordinary plain grey T-shirts” a week portrays you as being “simple”.

Do you even know he spent $100 million on buying two properties on Kauai Island in 2014 alone? He has several other properties which amounts to millions of dollars. Now is that still a “simple” life? Bill Gates owns a house that costs $123 million and he’s a “simple” man just because he doesn’t wear Gucci?

The fact that people spend money on what they wear doesn’t mean they don’t have investments/businesses. A person buys an iPhone X/Samsung S9 plus and the next thing people say is “He should have bought a land in Ibeju”, “Why didn’t he invest that money on cryptocurrency?”, “Oh, he is living a fake life. He should have invested the money on landed properties”. Do you know if the person in question has built two houses in Ibeju already? Do you know if he has a substantial amount of digital currencies? Do you even know if he doesn’t like the idea of doing business at all?

The point is, we all have different personalities and what entices or makes us happy are distinct from one another. We all have different mentalities. So, if man A decides to spend HIS money on clothing and fashion items, man B might decide to spend HIS on buying cars. Man C might decide to spend it on houses. This doesn’t mean man A is trying to be flashy or man C is a “simple” man. It all depends on what makes you happy.

Everyone is entitled to his/her own kind of lifestyle!

Are investors not in in it for the profits? I don't understand the essence of this news

Even crypto suffers. Hodl tight.
Since December fa. Those who know knows

ICT Freedom for Free

post=68465407:

The depreciation was impacted by losses recorded in medium and large capitalised stocks, amongst which are; Nigerian Breweries, Dangote Sugar, Zenith Bank, FBN Holdings and UBA


THIS IS bad for business

Bros,

You just took a bit part and formed an opinion. In actual fact, reverse is the case. The Nigerian stock market has done pretty well of late....

Analysts attributed the drop in indices to profit taking by investors on the exchange. According to them, investors leveraged the price appreciation recorded in the past few days to recoup their investment.

Despite the decline, they reiterated that stock prices remain attractive, making room for bargain hunting in value stocks, amidst still-positive macro-economic fundamentals.

Hyinkar97:
Lemme drop this here:

Before you condemn people’s choice of lifestyle

Countless number of times, I have seen people try to portray the likes of Mark Zuckerberg, Bill Gates, Aliko Dangote e.t.c as rich people who don’t live a flashy lifestyle just because they don’t wear “Gucci” and all other designers considered as “flashy/classy” being worn by Hushpuppi and all other celebrities. I can’t help but laugh at their ignorance.

Taking the owner of Facebook as an example, they say he “ordinary plain grey T-shirts” despite having a net worth of over 72 billion USD. Have you ever tried checking out how much each of the T-shirt costs? In case you’re not informed, each of them costs around $300-$400 and he has lots and lots and lots of them. There are even rumors he doesn’t wear a T-shirt twice. So you can imagine how wearing $2100-$2800 worth of “ordinary plain grey T-shirts” a week portrays you as being “simple”.

Do you even know he spent $100 million on buying two properties on Kauai Island in 2014 alone? He has several other properties which amounts to millions of dollars. Now is that still a “simple” life? Bill Gates owns a house that costs $123 million and he’s a “simple” man just because he doesn’t wear Gucci?

The fact that people spend money on what they wear doesn’t mean they don’t have investments/businesses. A person buys an iPhone X/Samsung S9 plus and the next thing people say is “He should have bought a land in Ibeju”, “Why didn’t he invest that money on cryptocurrency?”, “Oh, he is living a fake life. He should have invested the money on landed properties”. Do you know if the person in question has built two houses in Ibeju already? Do you know if he has a substantial amount of digital currencies? Do you even know if he doesn’t like the idea of doing business at all?

The point is, we all have different personalities and what entices or makes us happy are distinct from one another. We all have different mentalities. So, if man A decides to spend HIS money on clothing and fashion items, man B might decide to spend HIS on buying cars. Man C might decide to spend it on houses. This doesn’t mean man A is trying to be flashy or man C is a “simple” man. It all depends on what makes you happy.

Everyone is entitled to his/her own kind of lifestyle!

Gosh!

Wrong lane bros! This post of "obanikoroish" post of yours kind of "pollutes" the "Obamaesque" topic...

SalamRushdie:
Are investors not in in it for the profits? I don't understand the essence of this news

I think the essence of the news is to explain the sudden dip in trend of Nigerian stock performance, after a fantastic prior positive trend.