Continued share price depreciation on the equity sector of the Nigerian Stock Exchange (NSE), yesterday pulled the market capitalisation further down by N110 billion.
At the close of trading yesterday, All-Share Index (NSE-ASI) shed 303.16 absolute points, representing a decline of 0.81 per cent to close at 36,963.70 points, while year-to-date loss rose to 3.35 per cent.

Also, the market capitalisation declined by N110billion to close at N13.390trillion.

The depreciation was impacted by losses recorded in medium and large capitalised stocks, Okomu Oil, Stanbic IBTC Holdings, Lafarge Africa, International Breweries, and Julius Berger.

Analysts at Afrinvest Limited, said: “Despite the negative sentiment in the market, we anticipate a rebound in subsequent sessions as investors hunt for bargain opportunities.

Our view is further buttressed by the Relative Strength Index (RSI) of 36.1 points which is close to the oversold region.”

Market breadth closed negative, with 14 gainers versus 33 losers. Sovereign Trust Insurance recorded the highest price gain of eight per cent to close at 27kobo per share.

Wema Bank followed with a gain of 7.94 per cent to close at 68kobo, while Japaul Oil and Maritime Services appreciated by 6.45 per cent to close at 31kobo per share.

Mutual Benefits Assurance appreciated by 5.88 per cent to close at 36kobo, while Continental Reinsurance gained 3.45 per cent to close at N1.50 per share.

On the other hand, Capital Oil, and Julius Berger led the losers’ chart by 10 per cent each, to close at 27kobo and N24.30 respectively, while GlaxoSmithKline Consumer Nigeria followed with a loss of 9.97 per cent to close at N16.70 per share.

PZ Industries declined by 9.94 per cent to close at N15.40, while Consolidated Hallmark Insurance shed 9.68 per cent to close at 28kobo per share.

Also, the total volume traded declined by 32.84 per cent to 203.80 million shares worth N2.39billion traded in 4,178 deals.

Transactions in the shares of Transnational Corporation of Nigeria (Transcorp) topped the activity chart with 20.71 million shares valued at N26.56million.

http://www.akelicious.net/2018/07/stock-market-investors-lose-n11billion.html

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Buhary is hell bent on making Nigeria devoid of investment of any kind. Tragedy!!

there salary go still come

That's some BIG money!
That is massive!!

KpQ

Aftermath of Ekiti Election,

Now we can see where all the money used to bribe the electorates came from

This thing very similar to live betting
Make so much money in the blink of an eye and lose your whole life instantly too

Ellixlimswag:
there salary go still come

Wasn't all their fault tho, so why shouldn't they get paid?

waoooooo - what are the good shares to invest in?

There's need for one to understand how the stock market works.
If you know you don't understand jack about this thread except for the top losers and gainers aspect we always see towarfs tue end of the news register here.
Warch as people start blaming President Buhari.

Two steps forwards ten steps backwards.

israelmao:
Two steps forwards ten steps backwards.

Abi 30

Invest in Real Estate, it never depreciates..... contact me for Investments Advise

Oga o

Only1mi:


Wasn't all their fault tho, so why shouldn't they get paid?

whose fault tho cos me no understand stock market. them go de ontop computer morning till night come loose our billions.. baba works there too?

I've never seen anywhere in the world where investors will want to invest in an unstable economy,lack of political stability and lack of conviction by the govt. We can't have someone like Adeosun as Finance Minister and be confident in her decisions that affect the economy. We need to do things right before we can get it right.

Ellixlimswag:

whose fault tho cos me no understand stock market. them go de ontop computer morning till night come loose our billions.. baba works there too?

Do you blame the shop maid that is always on duty and on time for not making sales all through the day? And won't you pay her at the end of the month?

Nsogbu di

I have a spectranet mifi for sale, price is 8k. Check my profile for more info

This is normal. Stock market is always up and down. I monitor stanbic IBTC share price, always going up and down.

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qanda:
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com

was a bad day, I sa this on AIT online portal. very bad.

lafuria1:
This is normal. Stock market is always up and down. I monitor stanbic IBTC share price, always going up and down.

What is normal?
A year to date loss of 3.35% on ASI?

Institutional monies are gradually moving towards crypto-assets

IndependentGirl:
Invest in Real Estate, it never depreciates..... contact me for Investments Advise

The thousands of people who have to sell their properties less than it cost beg to differ.

They will lose and when they gain they will gain 0.2% etc then the next month government will pump in another million of dollars and the circle continues.

AroOkigbo:

Do you blame the shop maid that is always on duty and on time for not making sales all through the day? And won't you pay her at the end of the month?

lol i am that situation now

givan:
Buhary is hell bent on making Nigeria devoid of investment of any kind. Tragedy!!

Has buhari made any recent policy to deter the capital market performance?

Ellixlimswag:

whose fault tho cos me no understand stock market. them go de ontop computer morning till night come loose our billions.. baba works there too?

Your comment made me smile.

Second quarter financial reports are coming out, its called sustained profit taking.

However, the $680 million verdict against Oando by the London Court of International Arbitration also hurt the market.

The market is Oil dependent and with global crude oil trading at $72 a barrel ahead of Saudi Arabia supply increase. It is normal for a market like NSE to be impacted.

The same second-quarter reports that are pushing US stocks to a record-high and pushed Jeff Bezos net worth above $150 billion mark is hurting Nigeria. Diversification edge.