On Thursday May 30, investors in the Nigerian stock market booked loss of about N23billion as at 2:30pm closing time on the trading floor of the Bourse.

The Nigerian Stock Exchange (NSE) All Share Index (ASI) decreased by 0.17percent while the Year-to-Date (ytd) return stood at -0.56percent.

The All Share Index closed at 31,254.19points as against the preceding day close of 31,307points while Market Capitalisation closed at N13.766 trillion as against preceding day close of N13.789 trillion.

The stock market resumed to negative trading after the inauguration holiday on Wednesday May 29. The negative was recorded because investors were quick to take profit on select stocks following gains recorded in the prior trading sessions.

Unilever Nigeria Plc led the losers table after its share price declined from N33.7 to N31, losing N2.7 or 8.01percent. Dangote Cement Plc was also down, from N201.6 to N199.8, losing N1.8 or 0.89percent.

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Forte Oil Plc declined from N28 to N26.9, down by N1.1 or 3.93percent. The share price of GTBank Plc was down by N1 or 3.03percent, from N33 to N32. ETI Plc lost 95kobo, from N12.1 to N11.15, down by 7.85percent.

Nestle Nigeria Plc advanced most, from N1450 to N1454.5, adding N4.5 or 0.31percent; followed by MTNN which went up from N132.55 to N136, adding N3.45 or 2.60percent.

Stanbic IBTC Holdings Plc rose from N42.25 to N43, up 75kobo or 1.78percent. The volume of stock traded increased by 9.44percent, from 344.3million to 376.8million, while the total value of stocks traded decreased by 18.97percent, from N7.27billion to N5.89billion in 43,615 deals.

 

Iheanyi Nwachukwu

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By Iheanyi Nwachukwu • May 30, 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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