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Stock Market Weakens By 0.35% As Buhari Presents 2019 Budget - Business - Nairaland

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Stock Market Weakens By 0.35% As Buhari Presents 2019 Budget by dipoolowoo: 4:03am On Dec 20, 2018
By Dipo Olowookere

Stock market indices were weakened on Wednesday as President Muhammadu Buhari presented his government’s budget estimate for the 2019 fiscal year.

In his budget christened Budget of Continuity, Mr Buhari, during the presentation to a joint session of the National Assembly, said a total of N8.83 trillion is expected to be used in the coming year.

In reaction, the stock market suffered a decline as a result of the losses posted by some large cap equities on the Nigerian Stock Exchange (NSE).

The poor performances of Seplat, Dangote Cement and some other stocks dragged the market down by 0.35 percent, leaving the year-to-date loss at 19.71 percent.

While Seplat depreciated by N38.80 percent to settle at N555.20k per share, Total Nigeria went down by N3 to finish at N195 per share.

Also, Dangote Cement crashed by N3 to end at N186 per share, Mobil Oil Nigeria had its share value reduced by N2 to quote at N168 per share, while Julius Berger depreciated by 90 kobo to close at N20.10k per share.

On the flip side, Nestle Nigeria topped the gainers’ chart with N20 added to its share price to close at N1470 per share.

Forte Oil grew by N2.35k to end at N26.20k per share, while Nigerian Breweries appreciated by N1.80k to quote at N78.50k per share.

Furthermore, Stanbic IBTC went up by 45 kobo to close at N46 per share, while Flour Mills rose by 35 kobo to settle at N21.85k per share.

During trading yesterday, the volume of shares transacted reduced by 36.43 percent to 201 million units from 316.2 million units, while the value went down by 19.49 percent to N4.1 billion from N5.1 billion.

Zenith Bank dominated the activity chart on Wednesday with a turnover of 51.9 million shares transacted for N1.2 billion.

It was followed by Lafarge Africa, which sold 38.7 million units worth N457.3 million, and FBN Holdings, which transacted 15.9 million shares valued at N120.4 million.

GTBank exchanged 12.3 million equities for N427.6 million, while Fidelity Bank sold 9.6 million shares worth N18.4 million.

A look at the major market indices showed that the All-Share Index (ASI) declined by 109.21 points to settle at 30,704.98 points, while the market capitalisation went down by N39 billion to finish at N11.216 trillion.

https://businesspost.ng/2018/12/20/stock-market-weakens-by-0-35-as-buhari-presents-2019-budget
Re: Stock Market Weakens By 0.35% As Buhari Presents 2019 Budget by orisa37: 5:44am On Dec 20, 2018
It's a Budget of Depression. From Recession deeped down into Depression.
At this Time of War with Bokoharam imported from The Niger and the Sahel Region, F.G is so shameless to Remove Five able-bodied Yoruba Generals all at once from The Military. And The Yorubas are quiet?
What a Wickedness? What a Corruption? What a Recklessness?

34 Likes 1 Share

Re: Stock Market Weakens By 0.35% As Buhari Presents 2019 Budget by dokyOloye: 7:21am On Dec 20, 2018
Buhari is bad news unlimited.

21 Likes

Re: Stock Market Weakens By 0.35% As Buhari Presents 2019 Budget by Richdad50(m): 7:21am On Dec 20, 2018
Since Pres. Buhari came into power, investors have been bearish of the stocks. Consumer confidence and spending have significantly declined and the economy is looking gloomy and in very bad shape.

How do you hand over a Nation with such a youthful population, seeking Visionary leadership to a man who is not only old but lacks Wisdom. He remains the only past president who never went for a business course nor read a book after his tenure. He neither wrote a book, or gave a detailed documentation of his stewardship. No understanding of the economy of things.

Friends, you cannot give what you don't have or comprehend that which you've never seen or heard. A man who believed life is simple should never have been brought to govern a complicated country.

#Richdad

40 Likes 1 Share

Re: Stock Market Weakens By 0.35% As Buhari Presents 2019 Budget by Nobody: 7:21am On Dec 20, 2018
Only a fool, I repeat only an hypnotized fool would vote for buhari next year. How can anyone even in their right senses still vote for buhari who has been a monumental failure and carrier of bad luck. GEJ wasn't this bad but we voted him out and why should this religious bigot and lifeless president continue? Zombies can you in all sincerity say buhari has passed this first term and deserves our vote again? Come to the mainland where I live and see how people have turned coperate beggars. You can't go out again without people asking you for money but it's not their fault as no one wanna beg for money but they don't have a choice. Every single day I give out a minimum of a thousand naira to different people because people are hungry and there is no money. Sometimes I have to change my route home because of this issue. Please Nigerians let vote this man out, thing's are just so expensive. Sorry I am ranting but I am so angry at the thought of buhari winning next year again. Bleep buhari, Bleep atiku, Bleep APC and Bleep PDP but PDP is a lesser devil than this APC and we all know it's either APC or PDP that would win it. Let just get buhari out and if atiku messes up like this we get him out also.

48 Likes 3 Shares

Re: Stock Market Weakens By 0.35% As Buhari Presents 2019 Budget by Obagoblog(m): 7:22am On Dec 20, 2018
frying pan to fire

4 Likes

Re: Stock Market Weakens By 0.35% As Buhari Presents 2019 Budget by BabaIbo: 7:22am On Dec 20, 2018
Hmmm
Re: Stock Market Weakens By 0.35% As Buhari Presents 2019 Budget by Gten(m): 7:22am On Dec 20, 2018
This is one of the reasons I never believed the "Jubril Clone" story. It is difficult finding someone with the same level of incompetence.

51 Likes

Re: Stock Market Weakens By 0.35% As Buhari Presents 2019 Budget by MANNABBQGRILLS: 7:23am On Dec 20, 2018
That happens the day after......every year after budget.

To the NEXT LEVEL we keep going.

God bless you.
God bless Nigeria.
God bless our PRESIDENT.

1 Like 1 Share

Re: Stock Market Weakens By 0.35% As Buhari Presents 2019 Budget by mathow55(m): 7:23am On Dec 20, 2018
ok
Re: Stock Market Weakens By 0.35% As Buhari Presents 2019 Budget by Horus(m): 7:24am On Dec 20, 2018

https://www.youtube.com/watch?v=cEdpMeZw5aA

Nigeria Stock Market review for December 19, 2018
Re: Stock Market Weakens By 0.35% As Buhari Presents 2019 Budget by NaijaRoyalty(m): 7:24am On Dec 20, 2018
Buhari and failure are best of friends

7 Likes

Re: Stock Market Weakens By 0.35% As Buhari Presents 2019 Budget by arantess(m): 7:24am On Dec 20, 2018
Negative vibes

1 Like

Re: Stock Market Weakens By 0.35% As Buhari Presents 2019 Budget by MANNABBQGRILLS: 7:25am On Dec 20, 2018
NaijaRoyalty:
Evevrything buhari touches dies
dokyOloye:
Buhari is bad news unlimited.
Ignorance is a disease!
A very serious disease!!
Re: Stock Market Weakens By 0.35% As Buhari Presents 2019 Budget by Tofax: 7:26am On Dec 20, 2018
The budget proposal was prepared based on the following assumptions: Oil price: $60 per barrel of oil production rate: 2.3 million barrels per day exchange rate.

Where is the diversification of the economy?

14 Likes

Re: Stock Market Weakens By 0.35% As Buhari Presents 2019 Budget by Tycoon007(m): 7:26am On Dec 20, 2018
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Re: Stock Market Weakens By 0.35% As Buhari Presents 2019 Budget by maxiuc(m): 7:26am On Dec 20, 2018
angry
Re: Stock Market Weakens By 0.35% As Buhari Presents 2019 Budget by NaijaRoyalty(m): 7:26am On Dec 20, 2018
MANNABBQGRILLS:

Ignorance is a disease!

Buhari has always been a failure since his days as military head of state

He has failed before, and he's failing again .

19 Likes 1 Share

Re: Stock Market Weakens By 0.35% As Buhari Presents 2019 Budget by lawrence35(m): 7:26am On Dec 20, 2018
The market always drops towards celebrations,
Reason is...

More people are selling than buying.... I learnt that the hard way in 2008.



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Re: Stock Market Weakens By 0.35% As Buhari Presents 2019 Budget by MANNABBQGRILLS: 7:26am On Dec 20, 2018
NaijaRoyalty:


Buhari has always been a failure since his days as military head of state
He gas failed before, and he's failing again .
Ignorance suddenly turned to wailing!
That escalated so fast!
Sorry o!

1 Share

Re: Stock Market Weakens By 0.35% As Buhari Presents 2019 Budget by AceRoyal: 7:26am On Dec 20, 2018
This is bad!
Re: Stock Market Weakens By 0.35% As Buhari Presents 2019 Budget by Racoon(m): 7:27am On Dec 20, 2018
Just imagine! Investors confidence keep shrinking. Meanwhile;
7-@MBuhari said “We recorded successes in economic management.” How can this be when in 2019 we simultaneously became world headquarters for extreme poverty, out of school kids & infant mortality? @BillGates called Nigeria one of the worst places to be born #Buhari2019BudgetLies.

3 Likes

Re: Stock Market Weakens By 0.35% As Buhari Presents 2019 Budget by sammyj: 7:27am On Dec 20, 2018
Na Buhari be everything for PDP mind now
Re: Stock Market Weakens By 0.35% As Buhari Presents 2019 Budget by 34webers(m): 7:27am On Dec 20, 2018
[s]
Richdad50:
Since Pres. Buhari came into power, investors have been bearish of the stocks. Consumer confidence and spending have significantly declined and the economy is looking gloomy and in very bad shape.
[/s]

1 Like

Re: Stock Market Weakens By 0.35% As Buhari Presents 2019 Budget by Doilooklikeicare(m): 7:27am On Dec 20, 2018
na wa o,mere presenting budget, budget dey won't approve in d next 5 months
Re: Stock Market Weakens By 0.35% As Buhari Presents 2019 Budget by NaijaRoyalty(m): 7:27am On Dec 20, 2018
MANNABBQGRILLS:

Ignorance

Buhari is a monumental failure and a menace to the society

He must go in 2019

8 Likes

Re: Stock Market Weakens By 0.35% As Buhari Presents 2019 Budget by Kenekingisback: 7:27am On Dec 20, 2018
Nonsense...

Even dangote cement is unpleased with Buhari's budget sad

3 Likes

Re: Stock Market Weakens By 0.35% As Buhari Presents 2019 Budget by Nobody: 7:29am On Dec 20, 2018
Lolzzz

That's the next level

3 Likes

Re: Stock Market Weakens By 0.35% As Buhari Presents 2019 Budget by dokyOloye: 7:29am On Dec 20, 2018
MANNABBQGRILLS:


Ignorance is a disease!
A very serious disease!!
I ignore You!! !!!

5 Likes

Re: Stock Market Weakens By 0.35% As Buhari Presents 2019 Budget by EliteBeautyBlog(f): 7:31am On Dec 20, 2018
Some big loss down there


dipoolowoo:
By Dipo Olowookere

.

A look at the major market indices showed that the All-Share Index (ASI) declined by 109.21 points to settle at 30,704.98 points, while the market capitalisation went down by N39 billion to finish at N11.216 trillion.

https://businesspost.ng/2018/12/20/stock-market-weakens-by-0-35-as-buhari-presents-2019-budget

1 Like

Re: Stock Market Weakens By 0.35% As Buhari Presents 2019 Budget by hisgrace090: 7:32am On Dec 20, 2018
Investors advice to each other since buhari came in is beware of Nigeria.

3 Likes

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