No fewer than 39 listed companies that filed their Audited and Interim Financial Statements after the regulatory due dates for years 2019 and 2020 paid the Nigerian Stock Exchange (NSE) penalties cumulatively valued at N345 million.
With barging hunting activities in two sessions and profit taking in others, Nigeria’s stock market saw a week of mixed trading sentiment.
As investors adopted a more cautious trading, the market on Friday September 18 halted its three consecutive sessions of negative returns.
Analysts believe that with the improvement seen in the Crude oil market, the ASI will start the new week on a positive note, barring any external shocks capable of depressing investors’ sentiment.
The market’s benchmark performance indicator –Nigerian Stock Exchange (NSE) All-Share Index (ASI) – depreciated by 0.08percent to close the week ended Friday September 18 at 25,572.57 points, from 25,591.95 points at the beginning of the review week.
The market’s negative return year-to-date (ytd) stood at -4.73percent. Meanwhile, the NSE ASI has increased by 0.97percent this month.
The market however gained N13billion, as value of listed stocks increased to N13.364trillion from N13.351 trillion.
NSE Oil and Gas Index (-1.03percent) dipped most in the review week, followed by NSE Banking Index (-0.67percent).
On the bargain side, NSE Industrial Index gained most (+0.50percent), followed by NSE Consumer Goods Index (+0.13percent), and NSE Insurance Index (+0.01percent).
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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.
