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Nairaland Forum / Nairaland / General / Business / Nigerian Equities Drop To One-year Low After 1.29% Loss Thursday (2913 Views)
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Nigerian Equities Drop To One-year Low After 1.29% Loss Thursday by dipoolowoo: 11:30pm On Aug 16, 2018 |
By Dipo Olowookere For the first time in nearly a year, the All-Share Index (ASI) of the Nigerian Stock Exchange (NSE) dropped below the 35,000 mark on Thursday after losing 457.70 points to close at 34,618.43 points, the lowest point it has closed in more than one year. Business Post reports that the last time the index slipped below 35,000 was on September 19, 2017 when it ended at 34,846.82 points, while it finished below today’s point on July 21, 2017 at 34,020.37 points. It was observed that the market breadth remained negative despite the increase in market activities today on the trading floor of the exchange. At the close of business, a total of 29 stocks depreciated in value, while only 16 equities managed to record price appreciation. While the volume of shares transacted today rose by 13.49 percent to 237.8 million from 209.5 million, the value appreciated by 6.5 percent to N3.1 billion from N3 billion recorded yesterday. Dangote Cement emerged as the day’s highest price loser after shedding N8 of its share value to settle at N206 per share. The stock has lost 10.43 percent this year alone with a 52-week low of N204.52k and 52-week high of N278. Total Nigeria lost N7 today to close at N183 per share, while United Bank for Africa went down by 55 kobo to finish at N8.35k per share. Newrest ASL Nigeria fell by 45 kobo to end at N4.05k per share, while NASCON depreciated by 30 kobo to close at N20 per share. At the other side, Okomu Oil topped the gainers’ chart today after increasing by N1.45k to finish at N74.55k per share. It was followed by Oando, which gained 40 kobo to close at N4.95k per share, and GTBank, which rose by 30 kobo to settle at N38.05k per share. Portland Paints appreciated by 22 kobo today to end at N2.47k per share, while Axa Mansard garnered 15 kobo to close at N2.53k per share. A look at the activity chart showed that the buying interest in the stock of United Bank for Africa continued today with a total of 36.5 million units worth N319.4 million transacted. GTBank exchanged 23.5 million equities valued at N892.4 million, while FBN Holdings traded 21 million units of its stocks for N203.3 million. Zenith Bank transacted 17.4 million shares worth N398.4 million, while International Breweries sold 13.1 million equities for N461.8 million. Business Post reports that the equity capitalisation today recorded a loss of N167 billion to settle at N12.639 trillion. With the huge loss recorded today, analysts at Business Post expect bargain-hunting to commence tomorrow because of the low prices stocks have fallen into. https://www.businesspost.ng/2018/08/16/nigerian-equities-drop-to-one-year-low-after-1-29-loss-thursday/ |
Re: Nigerian Equities Drop To One-year Low After 1.29% Loss Thursday by 2odd(m): 7:11am On Aug 17, 2018 |
hopefully it will pick up pace before the month runs out, read somewhere that the political situation in a country and around the world do affect this things . |
Re: Nigerian Equities Drop To One-year Low After 1.29% Loss Thursday by IamAirforce1: 7:11am On Aug 17, 2018 |
Who we go blame now 4 Likes
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Re: Nigerian Equities Drop To One-year Low After 1.29% Loss Thursday by wickyyolo: 7:12am On Aug 17, 2018 |
APC when will you increase the value of our Naira to equal $1. Bunch of criminals . 7 Likes |
Re: Nigerian Equities Drop To One-year Low After 1.29% Loss Thursday by israelmao(m): 7:12am On Aug 17, 2018 |
Less network traffic is usual on the kind of thread.Nigerian economy going like yoyo. 1 Like |
Re: Nigerian Equities Drop To One-year Low After 1.29% Loss Thursday by Nobody: 7:13am On Aug 17, 2018 |
Saraki why naaaa. Let's blame saraki as blame have shifted from GEJ . 5 Likes |
Re: Nigerian Equities Drop To One-year Low After 1.29% Loss Thursday by Richdad50(m): 7:18am On Aug 17, 2018 |
See what politics have brought upon us all....POVERTY 5 Likes
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Re: Nigerian Equities Drop To One-year Low After 1.29% Loss Thursday by AreaFada2: 7:19am On Aug 17, 2018 |
Tough times for the economy. More investors likely to sell up as election approaches. |
Re: Nigerian Equities Drop To One-year Low After 1.29% Loss Thursday by DAntivirus: 7:21am On Aug 17, 2018 |
is stocks really profitable? 1 Like |
Re: Nigerian Equities Drop To One-year Low After 1.29% Loss Thursday by itswell1: 7:22am On Aug 17, 2018 |
israelmao:Very simple NAA olodo people full nairaland. You can't see them in such technical matters. Naa to curse n act in rumours,spread rumours and hatred den Tonto dike, Linda,etc naa Dem sabi The rambling of recent in the polity caused investor apathy to some of the shares that dropped values 1 Like |
Re: Nigerian Equities Drop To One-year Low After 1.29% Loss Thursday by amansi(m): 7:23am On Aug 17, 2018 |
It's just for the moment, things will bounce back again. I have seen the latest Airtel data plan for you to lower your browsing cost, check it out here: https://www.passmaga.com/2018/06/airtel-data-plan-airtel-offers-airtel-recharge.html |
Re: Nigerian Equities Drop To One-year Low After 1.29% Loss Thursday by FarahAideed: 7:24am On Aug 17, 2018 |
Everything is at all time low with Buhari on that seat ... Be wise , vote wise and not Buhari 1 Like |
Re: Nigerian Equities Drop To One-year Low After 1.29% Loss Thursday by SamoaUmaga: 7:28am On Aug 17, 2018 |
If I had shares I did sell dem |
Re: Nigerian Equities Drop To One-year Low After 1.29% Loss Thursday by Simpubozz(m): 7:42am On Aug 17, 2018 |
I'd wanted to understand the in-depth meaning of all these financial/economical terms in the financial domain. I'm usually perplex anytime I'm watching the business news and seeing all these terms (especially, d meaning of dangote gain 1naira, gtb loose 5kobo and so on). I will appreciate if someone can prescribe a rudiment book to read on this. thanks |
Re: Nigerian Equities Drop To One-year Low After 1.29% Loss Thursday by Wiseandtrue(f): 7:43am On Aug 17, 2018 |
[b]The government is not making Nigeria business friendly! Everywhere is just dry! There is no level playing ground! How can only one person have a monopoly of all the businesses Other Entrepreneurs/business agitators are discouraged Infact those who struggled or borrowed to put down a structure are frustrated economically There is no job but you are closing the existing ones Of recent is the issue between Yinka Aiyefele and OYO State government, do you know the number of people that would be affected if his radio station is demolished He might have even collected loans from the bank, might even be still owing the bank and you want to pull down what he has struggled to build over the years An employer of labour that should be encouraged and even recognised for his efforts I mean what is wrong with our system of governance in Nigeria Once you are established with your struggled oooòoo and you don't support government political or you are not their dummy, they tend to frustrate you! Forgetting that these are people together with the government are helping the country to grow Okay is it these workers that are lay off will buy cement or save or invest Sebi na person wey don see food chop go dey think about these things APC policies are killing this country! They need to change their strategy! If they do not change their method, I am afraid that this is just the beginning! This is not it at all, this is not it! [/b] 3 Likes 2 Shares |
Re: Nigerian Equities Drop To One-year Low After 1.29% Loss Thursday by ElectroLyte: 7:46am On Aug 17, 2018 |
That is a good new or Bad news |
Re: Nigerian Equities Drop To One-year Low After 1.29% Loss Thursday by ElectroLyte: 7:47am On Aug 17, 2018 |
Wiseandtrue: Do you have a Business or workshop? am sure its a workshop |
Re: Nigerian Equities Drop To One-year Low After 1.29% Loss Thursday by Wiseandtrue(f): 8:04am On Aug 17, 2018 |
ElectroLyte: Whatever it is should be encouraged not frustrated! Workshop oooo, office, kiosk, shop all na business! The only difference is in it name! At least one way or the other it employed other people thereby reducing the number of the unemployed on the hands of the government! In a sane country, government makes employment of labour competitive by appreciating those who employed alot of her citizens! Everything shouldn't be about politics! Everybody cannot be and must not be a politician for them to have a sense of belonging in their country! Everything shouldn't be politics all the time! Live and let's live! 1 Like |
Re: Nigerian Equities Drop To One-year Low After 1.29% Loss Thursday by Oluwatosin678(m): 8:54am On Aug 17, 2018 |
thank God ooo...... as he drop so make una make price of tins drop too... for the ladies, dont let dat stuff drop.. help kip dem up.... pls make una no quote me... |
Re: Nigerian Equities Drop To One-year Low After 1.29% Loss Thursday by demorezy(m): 9:01am On Aug 17, 2018 |
How do I buy these stocks? |
Re: Nigerian Equities Drop To One-year Low After 1.29% Loss Thursday by skallion7(m): 9:55am On Aug 17, 2018 |
Chain, look at how scanty this thread is. Naija youths sha |
Re: Nigerian Equities Drop To One-year Low After 1.29% Loss Thursday by Ugosample(m): 10:07am On Aug 17, 2018 |
israelmao: Because most Nigerians are dead brained mofos The political uncertainty in the country is driving investors out. It's bad enough that the "safe havens" (USA Swiss, Japan etc) are looking more attractive to invest in, the political uncertainty and APC heating up this country is making matters worse In addition, CBN is covering up this mass forex exodus by using more and more dollars to shore up the value of the naira Quick question : when was the last time you heard this govt brag about growing the foreign reserves? That should explain it. And with oil prices uncertain, how long will the cbn continue to cover up ? .Nigeria is fvcked and it's dumb and useless populace do not know They are busy shouting APC and Saraki When the ASI slips below 30,000 points which is sure to happen, then Nigeria will know the big shit they are in USELESS shithole 1 Like |
Re: Nigerian Equities Drop To One-year Low After 1.29% Loss Thursday by Ugosample(m): 10:11am On Aug 17, 2018 |
Wiseandtrue: your country is a useless one You don see am na |
Re: Nigerian Equities Drop To One-year Low After 1.29% Loss Thursday by Ugosample(m): 10:12am On Aug 17, 2018 |
2odd:yes it does |
Re: Nigerian Equities Drop To One-year Low After 1.29% Loss Thursday by Ugosample(m): 10:17am On Aug 17, 2018 |
AreaFada2:.Sell offs will persist The sell offs could slow down if and only if the politicians stop heating up the polity |
Re: Nigerian Equities Drop To One-year Low After 1.29% Loss Thursday by dipoolowoo: 11:11am On Aug 17, 2018 |
Dear Simpubozz, kindly check this Understanding Terms Used in Stock Market (Part 1) https://www.businesspost.ng/2018/07/27/understanding-terms-used-in-stock-market-part-1/ Regards Simpubozz: |
Re: Nigerian Equities Drop To One-year Low After 1.29% Loss Thursday by dipoolowoo: 11:12am On Aug 17, 2018 |
Dear Demorezy, you can buy stocks through a stockbroker. Kindly read this article for more understanding Understanding Terms Used in Stock Market (Part 1) https://www.businesspost.ng/2018/07/27/understanding-terms-used-in-stock-market-part-1/ Regards demorezy: |
Re: Nigerian Equities Drop To One-year Low After 1.29% Loss Thursday by dipoolowoo: 11:16am On Aug 17, 2018 |
Bro, with the way things are going, the index might even go below 30,000. There is panic everywhere and with the dirty politics ongoing, it is natural for investors to "ja paa" (run). Normally, foreign reserves shouldn't be what government should brag about, but the Excess Crude Account, which is actually what we have as savings. But those who know, know. Ugosample: |
Re: Nigerian Equities Drop To One-year Low After 1.29% Loss Thursday by owunabastard: 11:40am On Aug 17, 2018 |
At this time I will advise investors to look towards investing on crypto currency |
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