The volatile pattern of the market, occasioned by the ongoing anxiety in Nigeria’s political environment has continued to drive cautious trading by investors on the Nigerian Stock Exchange (NSE), as the All-share index depreciates by 0.3% yesterday.

Last week Thursday, the NSE’s All-share index had opened on a sharp gap down in the morning session, which was sustained until afternoon, as high cap stocks that had suffered losses appreciated in price, before retracing up.

Also, at the end of transactions on Friday, the gains recorded on the previous session were enough to push the indices further.


However, at the end of yesterday’s transactions, the previous trading day’s positive trend was reversed, as the gains were not enough to push the indices further.

Specifically, All Share Index (NSE-ASI) shed 114.81 absolute points, representing a decline of 0.32 per cent to close at 35,311.36 points.

Also, the market capitalisation declined by N42 billion to close at N12.891 trillion.

The negative performance was driven by profit taking in Dangote Cement, Unilever Nigeria, UAC of Nigeria, GlaxoSmithKline Consumer Nigeria and Ikeja Hotel.

Analysts at Codros Capital Limited said: “Our outlook for equities in the near to medium term remain conservative, in the absence of a near term one-off positive catalyst; and more so, amidst brewing political concerns.

However, stable macroeconomic fundamentals remain supportive of recovery in the long term.”


Market breadth closed positive, with 26 gainers versus 14 losers.

Diamond Bank and Niger Insurance recorded the highest price gain of 10 per cent each, to close at N1.21 and 44 kobo per share, respectively, while Flourmill Nigeria followed with a gain of 9.77 per cent to close at N23.60 per cent.

Linkage Assurance appreciated by 9.46 per cent to close at 81 kobo, while Jaiz Bank rose 8.33 per cent to close at 52 kobo per share.

On the other hand, First Aluminium led the losers’ chart by 10 per cent, to close at 36 kobo per share.

Ikeja Hotel shed 9.68 per cent to close at N2.52, while Universal Insurance depreciated by 9.09 per cent to close at 40 kobo per share.

Japaul Oil declined by 7.69 per cent to close at 24 kobo and Secure Electronic Technology shed 4.76 per cent to close at 20 kobo per share.

The total volume traded depreciated by 66.12 per cent to 178.81 million shares, worth N2.02 billion, and traded in 2,981 deals.

Transactions in the shares of Nigerian Aviation Handling Company topped the activity chart with 19.23 million shares valued at N73.05 million.

http://www.akelicious.net/2018/08/bears-emerge-as-index-drops-by-03-amid.html

Interesting

This market sha....despite the early hopes and positive sentiments at the beginning of the year with several stocks cursing at high levels etc the political tension in the country have caused so much harm and the market been struggling as well. Oh my Flourmill when shall I see you high, when shall I see my Flourmill I will never forget Sai Baba....

Who will invest now with the political uncertainties.

The same thing happened when Buhari announced his intention to contest the second time. The man should go please . All these negative indices further affect our lives and the nation in the negative pathway.

the duck is "bears"

Outofsync:
the duck is "bears"

Lmao Duck ke?

Can someone interprete this to English .... Meanwhile check my signature let's talk business

Aydesmond:
Can someone interprete this to English
.... Meanwhile check my signature let's talk business

Two types of market index (I hope I used the right word) Bull and Bear , using their attacking nature. The bull goes low and rises while the bear stands and falls. I hope I'm correct ooo. I'm still a learner in this.

So I guess the Nigerian Stock market suffered Losses

bigcil2:

Two types of market index (I hope I used the right word) Bull and Bear , using their attacking nature. The bull goes low and rises while the bear stands and falls. I hope I'm correct ooo. I'm still a learner in this.

So I guess the Nigerian Stock market suffered Losses

thanks bro... Hope we the forex traders are safe.... Lol... Who buys naira b4 sef

Their activities involves transfer of wealth.

E.g From Peter to Paul leading to tears, misery, destruction.

Why not create new wealth instead

VeeVeeMyLuv:
Their activities involves transfer of wealth.

E.g From Peter to Paul leading to tears, misery, destruction.

Why not create new wealth instead

not really so

It's the speculators who cry and are miserable

those who invest for value no mind price changes

If it were cryptocurrency they would cry foul. Crypto has come to stay. Invest in the future mode of payment. Invest in BITF. search CMC or Livecoinwatch for this very coin. It's BITF. THEN TRY HYDRO

bornolowu:
The same thing happened when Buhari announced his intention to contest the second time. The man should go please . All these negative indices further affect our lives and the nation in the negative pathway.

Bla bla bla .
Nonsense talk

lool when lion go comot o

Aydesmond:
thanks bro... Hope we the forex traders are safe.... Lol... Who buys naira b4 sef

Not buying Naira but buying parts to company’s with Naira but the value of the economy can tank the value of the share even tho the company maybe doing well

This is the right time for wise INVESTORS to take position in the NSE. Simply buy Stocks with good fundamentals

This is the time to buy shares. Prices are ridiculously low.

So no one comments on educative threads like these?

Nigerians Youths are tooooooo dumb, I swear