The Nigerian Stock Exchange (NSE) benchmark performance indicator – the All Share Index (ASI) decreased further by 0.04 percent on Wednesday December 9.

Stock investors booked about about N6billion loss as buy-side activities declined. The record negative close pushed down the year-to-date (YtD) positive returns to +30.47percent.

The All Share Exchange decreased from preceding day high of 35,033.74 points to 35,021.26 points while the value of listed equities on the bourse stood lower at N18.304trillion as against preceding trading day high of N18.310trillion.

Ardova Plc topped the losers league after its share price moved from N14.45 to N13.2, down by N1.25 or 8.65 percent. Fidson Healthcare also went down from N4.88 to N4.5, losing 38kobo or 7.79 percent.

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Neimeth made the top laggards list after the stock price moved from preceding day high of N2.53 to N2.4, losing 13kobo or 5.14percent. Julius Berger followed after declining from N18.5 to N18.4, down by 10kobo or 0.54 percent.

In 3,855 deals, stock investors exchanged 283,090,838 units valued at N3.420billion. FBNHoldings, GTBank, AIICO, Zenith Bank and Mutual Benefit were actively traded stocks on Wednesday.

While the market failed to reverse its negative close, analysts believe it will continue the sideways trading pattern as investors position lower to improve their yield amid some foreign sellers continuing to take profit.

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By Iheanyi Nwachukwu • December 10, 2020

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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