Nigerian equities market opened this week on a negative note following record negatives seen in Seplat, Nestle and 15 other stocks as against 16 gainers.

Investors lost N59billion at the close of trading session on Monday October 7, 2019. The Nigerian Stock Exchange (NSE) All Share Index (ASI) decreased by 0.45percent, while the Year-to-date (Ytd) return stood at -14.52percent.

Seplat Pe t r o l e u m Development Company Plc decreased from an open price of N555 to N517, after losing N38 or 6.85percent, followed by Nestle Nigeria Plc which dipped from N1255.5 to N1230, after losing N25.5 or 2.03percent. UAC Nigeria Plc recorded the highest gain after it share price moved up from N6.55 to N7.1, adding 55kobo or 8.40percent, while Cement Company of Northern Nigeria Plc rose from N14.8 to N15.2, adding 40kobo or 2.70percent.

Read also: Investors could be paying the same amount to acquire Oando or Seplat

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The All Share Index closed at 26,866.41 points as against the preceding day close of 26,987.45 points while Market Capitalisation closed at N13.078 trillion against preceding day close of N13.137 trillion.

The volume of stocks traded increased by 9.24percent, from 138.88million to 151.71million, while the total value of stocks traded increased by 45.56percent from N1.033 billion to N1.504 billion in 2,854 deals.

The Financial Services sector led Monday’s activity chart with 117.8 million shares exchanged for N571million, followed by Conglomerates with 18.945 million shares traded for N29 million.

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By Iheanyi Nwachukwu • October 8, 2019

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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