Stock market opens week on negative note

The Nigerian stock market furthered its downward movement at the close of trading session on Monday March 18. At the sound of closing gong, only ten (10) stocks gained as against 20 losers. This led to the week opening on a negative note.

The Nigerian Stock Exchange (NSE) All Share Index (ASI) decreased by 0.06percent, while the Year-to-Date (ytd) return stood at -0.97percent.

The All Share Index closed at 31,125.39 points as against the preceding day close of 31,142.72 points while Market Capitalisation closed at N11.607 trillion against preceding day close of N11.614 trillion.

Cutix Plc led the loser league after its share price declined by 2kobo or 8.89percent, from N2.25 to N2.05 while that of Dangote Flour Mills Plc recorded the highest advance by 75kobo or 7.35percent, from N10.2 to N10.95.

The volume of stocks traded decreased by 1.86percent, from 209.61million to 205.72million, while the total value of stock traded decreased by 42.16percent, from N3.32billion to N1.92billion in 3,821 deals.

Trade volume across FX windows declines in March as market stabilises

By Okafor Endurance • March 19, 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.