The bears continued their reign on Thursday April 4 at the Nigerian Stock Exchange (NSE), causing equity investors to book additional loss of about N43.42billion at the close of trading.

With just 11 gainers as against 18 losers, the Year-to-Date (YtD) returns moved further into the negative territory to -5.97percent.

The NSE All Share Index (ASI) depreciated by 0.39percent to close at 29,553.12 points from a high of 29,668.73 points the preceding day. Also, the value of listed stocks closed at N11.100trillion against preceding day high of N11.144trillion.

Forte Oil Plc recorded the largest value increase, from N24.95 to N27.4, adding N2.45 or 9.82percent; also, Vitafoam moved up from N3.57 to N3.85, adding 28kobo or 7.84percent. Oando Plc increased from N4.8 to N4.95, adding 15kobo or 3.13percent.

On the losers table, Mobil Oil Plc recorded the highest dip, from N178 to N170, losing N8 or 4.49percent. CAP Plc was down from N37.4 to N33.7, losing N3.7 or 9.89percent; while Dangote Cement Plc dropped from N190 to N189, losing N1 or 0.53percent.

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“The steep downtrend of the main index eased as losses tempered. The first trading week of the quarter will likely end in red even as declines continue to soften. However, as the All-Share Index dipped below 30,000 on Wednesday for the first time since January 9th, 2019, we see the possibility of investors bargaining on attractive entry prices of stocks across the board”, said research analysts at Lagos-based Vetiva Securities Limited.

In 4,133 deals, stock traders exchanged 499,087,955 units valued at N2.894billion. Sterling Bank Plc, Chams Plc, FBN Holdings Plc, Zenith Bank Plc and UBA Plc were actively traded stocks on the NSE.

 

Iheanyi Nwachukwu

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Iheanyi Nwachukwu, is a creative content writer with almost two decades journalism experience writing on banking, finance, capital markets, and tax. The multiple awards winning journalist is Assistant Editor, BusinessDay. Iheanyi holds BSc Degree in Economics from Imo State University; Master of Science (MSc) Degree in Management from University of Lagos. Iheanyi has attended several work-related trainings including (i) Advanced Writing and Reporting Skills (Pan African University, Lagos); (ii) News Agency Journalism (Indian Institute of Mass Communication {IIMC}, New Delhi, India); and (iii) Capital Markets Development and Regulations (International Law Institute {ILI} of Georgetown University, Washington DC, USA). Other trainings Iheanyi attended include: Economic/Political Risk Analysis (By Thomson Reuters Foundation); International Financial Journalism (IFJ) (By PMA Media Training, UK); Effective Business Writing Skills (By Phillips Consulting); Reporting on Corporate Governance (By International Finance Corporation (IFC) & Thomson Reuters Foundation UK); etc. In addition, he has participated in high-level economy & markets events in Dubai, South Africa, Morocco, and other African countries like Zambia, Ghana and Gambia.

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