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Stock Market Dips To Six Weeks Low On Weak Earnings - Business - Nairaland

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Stock Market Dips To Six Weeks Low On Weak Earnings by Truth234(m): 7:28am On Aug 02, 2018
The gauge of the Nigerian stock market declined the most in six weeks on Wednesday following disappointing earnings report by big corporations.

The All Share Index of the Nigerian Stock Exchange declined 1.1 percent on Wednesday, the highest single-day drop since June 21. The market capitalisation of listed equities declined from N13.459 trillion on Tuesday to N13.263 trillion on Wednesday.

Dangote Cement Plc, the largest share by market value, dipped by 1.3 percent. While Royal Exchange Plc declined by 10 percent and Nigerian Breweries Plc pulled back by 1.9 percent respectively.

Mr. Olufemi Awoyemi, the Chief Executive of Proshare Nigeria Limited was quoted by Bloomberg as saying that some companies cut their earnings projection following poor first half of the year.

“Some investors want to play safe and are moving to the fixed-income market,” he added.

Also, the rising political tension weighed on decision making. The ruling party, All Progressives Congress, has lost key members, including the Senate president to the opposition part amid series of accusations between its members.

The Senate President, Bukola Saraki, and the governor of Sokoto State, Aminu Tambuwal left the ruling party to join the Peoples Democratic Party, which has ruled the nation for 16 years until a coalition party, APC, defeated them in 2015.

An economist at Vetiva Capital Management Limited, Michael Famoroti, said politics will drive the medium term market performance.

However, he attributed the weak market sentiment to disappointing earnings from Dangote Cement and Nigerian Breweries, the two biggest companies by market capital and account for almost half of the market.

http://investorsking.com/stock-market-dips-to-six-weeks-low-on-weak-earnings/ mynd44
Re: Stock Market Dips To Six Weeks Low On Weak Earnings by aynurni220(m): 7:39am On Aug 02, 2018
angry angry shocked
Re: Stock Market Dips To Six Weeks Low On Weak Earnings by tensazangetsu20(m): 7:43am On Aug 02, 2018
Who even invests in Nigerian stock market sef undecided

2 Likes

Re: Stock Market Dips To Six Weeks Low On Weak Earnings by BabaIbo: 7:49am On Aug 02, 2018
People still dey invest in Nigerian Stock market

3 Likes

Re: Stock Market Dips To Six Weeks Low On Weak Earnings by BAILMONEY: 7:49am On Aug 02, 2018
THATS WHAT YOU GET WHEN YOU HAVE AN ISLAMIC TERRORIST AS YOUR PRESIDENTsad

7 Likes 1 Share

Re: Stock Market Dips To Six Weeks Low On Weak Earnings by patani(m): 7:55am On Aug 02, 2018
Truth234:
The gauge of the Nigerian stock market declined the most in six weeks on Wednesday following disappointing earnings report by big corporations.

The All Share Index of the Nigerian Stock Exchange declined 1.1 percent on Wednesday, the highest single-day drop since June 21. The market capitalisation of listed equities declined from N13.459 trillion on Tuesday to N13.263 trillion on Wednesday.

Dangote Cement Plc, the largest share by market value, dipped by 1.3 percent. While Royal Exchange Plc declined by 10 percent and Nigerian Breweries Plc pulled back by 1.9 percent respectively.

Mr. Olufemi Awoyemi, the Chief Executive of Proshare Nigeria Limited was quoted by Bloomberg as saying that some companies cut their earnings projection following poor first half of the year.

“Some investors want to play safe and are moving to the fixed-income market,” he added.

Also, the rising political tension weighed on decision making. The ruling party, All Progressives Congress, has lost key members, including the Senate president to the opposition part amid series of accusations between its members.

The Senate President, Bukola Saraki, and the governor of Sokoto State, Aminu Tambuwal left the ruling party to join the Peoples Democratic Party, which has ruled the nation for 16 years until a coalition party, APC, defeated them in 2015.

An economist at Vetiva Capital Management Limited, Michael Famoroti, said politics will drive the medium term market performance.

However, he attributed the weak market sentiment to disappointing earnings from Dangote Cement and Nigerian Breweries, the two biggest companies by market capital and account for almost half of the market.

http://investorsking.com/stock-market-dips-to-six-weeks-low-on-weak-earnings/ mynd44

This is the best time to invest.

2 Likes

Re: Stock Market Dips To Six Weeks Low On Weak Earnings by 4601CE(m): 7:55am On Aug 02, 2018
tensazangetsu20:
Who even invests in Nigerian stock market sef undecided
millions of people
Re: Stock Market Dips To Six Weeks Low On Weak Earnings by fran6co(m): 7:57am On Aug 02, 2018
no positive news for naija
Re: Stock Market Dips To Six Weeks Low On Weak Earnings by AreaFada2: 8:01am On Aug 02, 2018
tensazangetsu20:
Who even invests in Nigerian stock market sef undecided
People do o. Long term some companies are good.
Moreover some can afford to have money tied down for years or can even afford to lose it. After bank shares show many of us shege, nor be small thing. grin

If not for devaluation of Naira over time, investing now when low is next best to investing when companies for go to stock market.

1 Like

Re: Stock Market Dips To Six Weeks Low On Weak Earnings by tensazangetsu20(m): 8:10am On Aug 02, 2018
AreaFada2:

People do o. Long term some companies are good.
Moreover some can afford to have money tied down for years or can even afford to lose it. After bank shares show many of us shege, nor be small thing. grin

If not for devaluation of Naira over time, investing now when low is next best to investing when companies for go to stock market.
Aren't there just 173 companies. Some companies shares have been the same price for ages. The last IPO was in 2014. If there was a way to invest in foreign stock markets like USA and China then I would be game but for Africa never lipsrsealed
Re: Stock Market Dips To Six Weeks Low On Weak Earnings by Danny287(m): 8:24am On Aug 02, 2018
hmmm too bad everything is crashing
Re: Stock Market Dips To Six Weeks Low On Weak Earnings by Danny287(m): 8:25am On Aug 02, 2018
hmmm too bad everything is crashing.
Re: Stock Market Dips To Six Weeks Low On Weak Earnings by chloride6: 8:26am On Aug 02, 2018
Truth234:
The gauge of the Nigerian stock market declined the most in six weeks on Wednesday following disappointing earnings report by big corporations.

The All Share Index of the Nigerian Stock Exchange declined 1.1 percent on Wednesday, the highest single-day drop since June 21. The market capitalisation of listed equities declined from N13.459 trillion on Tuesday to N13.263 trillion on Wednesday.

Dangote Cement Plc, the largest share by market value, dipped by 1.3 percent. While Royal Exchange Plc declined by 10 percent and Nigerian Breweries Plc pulled back by 1.9 percent respectively.

Mr. Olufemi Awoyemi, the Chief Executive of Proshare Nigeria Limited was quoted by Bloomberg as saying that some companies cut their earnings projection following poor first half of the year.

“Some investors want to play safe and are moving to the fixed-income market,” he added.

Also, the rising political tension weighed on decision making. The ruling party, All Progressives Congress, has lost key members, including the Senate president to the opposition part amid series of accusations between its members.

The Senate President, Bukola Saraki, and the governor of Sokoto State, Aminu Tambuwal left the ruling party to join the Peoples Democratic Party, which has ruled the nation for 16 years until a coalition party, APC, defeated them in 2015.

An economist at Vetiva Capital Management Limited, Michael Famoroti, said politics will drive the medium term market performance.

However, he attributed the weak market sentiment to disappointing earnings from Dangote Cement and Nigerian Breweries, the two biggest companies by market capital and account for almost half of the market.

http://investorsking.com/stock-market-dips-to-six-weeks-low-on-weak-earnings/ mynd44

False Info

Where you keep GTB and Nestle?
Re: Stock Market Dips To Six Weeks Low On Weak Earnings by micariice(m): 8:28am On Aug 02, 2018
It is when they buy the product the company is selling that the stock exchange market can rise to make profit

1 Like

Re: Stock Market Dips To Six Weeks Low On Weak Earnings by AreaFada2: 8:56am On Aug 02, 2018
tensazangetsu20:

Aren't there just 173 companies. Some companies shares have been the same price for ages. The last IPO was in 2014. If there was a way to invest in foreign stock markets like USA and China then I would be game but for Africa never lipsrsealed
Yes there are issues. I went into 9ja stock with the confidence of experience of European shares well before 2007/8 economic crisis. Even with little money then you could play the market reasonably well.
But 9ja turned out to be a different beast. Lack of transparency and insider stuff. Quite amazing that no IPO since 2014. Shows lack of confidence.

Even with foreign shares be careful. Not all Western companies are now viable as they once were. We might not be too far from another economic crisis. Consider possible Brexit impact on global economy.

2 Likes

Re: Stock Market Dips To Six Weeks Low On Weak Earnings by omoyankee3(m): 10:47am On Aug 02, 2018
Good time to buy the dips of value stocks.

1 Like

Re: Stock Market Dips To Six Weeks Low On Weak Earnings by Atiku4presido: 12:06pm On Aug 02, 2018
omoyankee3:
Good time to buy the dips of value stocks.



Please can you hint me more on that??
Re: Stock Market Dips To Six Weeks Low On Weak Earnings by yinka2011: 1:04pm On Aug 02, 2018
but not all result was bad

nestle, mobil, aiico , mansard, mrs all had positive result.

for stocks just follow the easykobo website and you are on top of the game
Re: Stock Market Dips To Six Weeks Low On Weak Earnings by CofOLandOfPeace(m): 3:03pm On Aug 02, 2018
What's happening to stocks again. This reminds me of 2008 market crash where I lost a lot on the different stocks I held then.

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Re: Stock Market Dips To Six Weeks Low On Weak Earnings by MIKOLOWISKA: 11:25pm On Aug 03, 2018
AreaFada2:

Yes there are issues. I went into 9ja stock with the confidence of experience of European shares well before 2007/8 economic crisis. Even with little money then you could play the market reasonably well.
But 9ja turned out to be a different beast. Lack of transparency and insider stuff. Quite amazing that no IPO since 2014. Shows lack of confidence.

Even with foreign shares be careful. Not all Western companies are now viable as they once were. We might not be too far from another economic crisis. Consider possible Brexit impact on global economy.
Lack of initiative and brains not confidence

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