Investors in Nigeria’s stock market booked N149billion loss on Tuesday September 24 due to persisting negative feelings at the Bourse. The year-to-date (YTD) return advanced further into the negative region, now at -12.98percent. Month-to-date (MTD), the market has lost 1.25percent of its value.

The stock market’s benchmark performance indicator dropped by 1.08percent to close on Tuesday at 27,352.24 points as against preceding trading day’s 27,657.27points.

The value of listed stocks decreased to N13.314trillion from a preceding day high of N13.463trillion.

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Market watchers saw how the equities market remained pressured as most blue-chip stocks closed lower leading to the market breadth settling in the negative territory for the second trading day into this week. In 2,922 deals, equity dealers exchanged 154,034,130 units valued at N2.825billion.

On 6 stocks gained as against 28 losers. Mobil Nigeria Plc led the pack of losers after its share price decreased from N158 to N153.5, losing N4.5 or 2.85percent, followed by Stanbic IBTC Holdings which declined from N42.85 to N39.3, losing N3.55 or 8.28percent.

Also, Cadbury Nigeria Plc dipped from N11.6 to N10.45 after shedding N1.15 or 9.91percent, and MTNN Plc which lost N1 or 0.71percent, from N140to N139.

On the gainers table, Nestle Nigeria Plc advanced most, from N1210.1 to N1215.1, adding N5 or 0.41percent, while UAC Nigeria Plc rallied from N7.15 to N7.65, adding 5kobo or 6.99percent.

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By Iheanyi Nwachukwu • September 25, 2019

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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