Investors lose N108bn as stock market opens week on negative note

At the sound of closing gong on Monday, March 11 at the Nigerian Stock Exchange (NSE), the equities market indicator showed negative.

The All Share Index (ASI) which is the benchmark performance indicator of the NSE depreciated by 0.90percent to 31,636.66points as against 31,924.51 points recorded the preceding trading day.

The market’s Year-to-Date (YtD) returns stood at +0.66percent. The value of listed equities decreased from N11.905trillion to N11.797trillion, losing approximately N108billion.

No fewer than 14 stocks gained as against 19 losers. Nestle Nigeria Plc recorded the highest decline after its share price dipped from N1510 to N1480, down by N30 or 1.99percent.

Okomuoil Plc was also down from N80 to N79, losing N1 or 1.25percent; while Lafarge Africa Plc decreased from N12.95 to N12.5, down 45percent or 3.47percent.

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By Oladehinde Oladipo • March 12, 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.