Investors lose additional N79bn as negative sentiment persists on Nigerian bourse

Nigeria’s equities market closed on Wednesday March 27 on a negative note. The Nigerian Stock Exchange (NSE) All Share Index (ASI) depreciated further by 0.67percent at the sound of closing gong on the 9th floor of the Exchange.

The NSE ASI closed at 30,829.45 points as against preceding day high of 31,038.86points. The value of listed stocks decreased from N11.671 trillion to N11.592trillion, implying value decline of N79billion. The stock market’s Year-to-Date (YtD) return currently stands at -1.91percent. Only eleven (11) stocks gained against 19 losers.

Seplat Petroleum Development Company Plc recorded the highest value decline after its share price declined from N550 to N540, down by N10 or 1.82percent. Presco Plc also declined from N64.5 to N62, losing N2.5 or 3.88percent. Stanbic IBTC Holdings Plc lost N2.5 or 5.15percent, from N48.5 to N46.

Guinness Nigeria Plc dipped from N64 to N62.45, losing N1.55 or 2.42percent; while GTBank Plc declined from N37.4 to N36, down by N1.4 or 3.74percent. On the gainers table, Okomu Oil Palm Plc recorded the highest share price advance, from N79 to N80, adding N1 or 1.27percent. Cadbury Nigeria Plc moved up from N10.85 to N11.2, adding 35kobo or 3.23percent.

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By Anthony Ailemen • March 27, 2019

Iheanyi Nwachukwu

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.