Nigeria’s stock market opened this week trading (Monday July 13) on a negative note, corroborating BusinessDay’s earlier report that the market will remain pressured this week.

The continued spread of the Coronavirus and its negative impact on major global and domestic indicators remain a source of worry to investors and businesses.

The market’s benchmark performance indicator printed lower at 24,200.60 points, representing a decline of -0.44percent compared to preceding day high of 24,306.36 points; while the value of listed equities on the local bourse decreased by N56billion to N12.624trillion as against preceding trading day high of N12.680trillion.

The stock market’s negative return year-to-date (YtD) stood higher at -9.84percent. In this month of July, stock market has decreased by -1.14percent.

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In 3,950 deals, investors exchanged 231,234,804 units valued at N2.154billion. Sterling Bank, FCMB, Fidelity Bank, GTBank and MTNN were actively traded stocks on Monday July 13, 2020.

Mobil Oil dipped most, from N192.6 to N173.4, losing N19.2 or 9.97percent; MTNN followed after its share price decreased from N116.1 to N115, down by N1.1 or 0.95percent.

Also, Zenith Bank made the top losers league after its share price decreased from N16.7 to N16.2, losing 50kobo or 2.99percent. GTBank dropped from day open high of N22.45 to N22, shedding 45kobo or 2percent, while Eterna Plc dropped from N2.24 to N2.09, losing 15kobo or 6.70percent.

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By Iheanyi Nwachukwu • July 14, 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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