Investors book another N143bn loss as sell pressure continues -

The Nigerian stock market furthered into the bearish region on Tuesday, December 10 causing the already record negative return this year to reach -16.06percent.

This negatives continued on the Bourse as more investors put their shares for sale preparatory to yuletide spending.

Investors lost N143billion as evidenced in the value of listed stocks which decreased from preceding day high of N12.877trillion to N12.734trillion.

As sell pressure continues to dominate the equities market pushing the NSE ASI deeper in the red zone, market watchers foresee a similar trend on Wednesday in the absence of any positive market catalyst.

The Nigerian Stock Exchange (NSE) All Share Index (ASI) which opened the review day’s trading at 26,681.31 points decreased to 26,384.21 points. In 3,153 deals investors exchanged 196,291,978 units valued at N3.551billion.

GTBank, Access Bank, Transcorp, Zenith Bank and Wema Bank were actively traded stocks. Nestle recorded the highest dip after its share price moved from N1350 to N1300, losing N50 or 3.70percent, followed by MTN N which decreased from N118 to N116, down by N2 or 1.69percent and Dangote Cement Plc which decreased from N142 to N140, losing N2 or 1.41percent.

Gains by Zenith, Access, FCMB, and GSK failed to stop the record loss. Analysts believe the consistent declines on the Bourse create opportunity for position taking in value counters with records of dividend payments and capital appreciation.

Nigerian stocks halt seven-day decline from Moody’s-induced month-low

By Segun Adams • December 11, 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.