The Nigerian stock market still opened this week on a negative note despite analysts’ expectation of an increased activity on the Bourse as second quarter (Q2) earnings results season fast approaches.

At the sound of trade closing gong on Monday July 15, 2019 the Nigerian Stock Exchange (NSE) All Share Index (ASI) decreased by 0.79percent, pushing the month-to-date (Mtd) decline to 5.43percent and year-to-date (ytd) loss to -9.83percent.

The NSE ASI decreased from 28,566.79 points to 28,340.98 points while the value of listed stocks decreased by N111billion from N13.922 trillion to N13.811trillion.

Total Nigeria Plc recorded the highest loss, after its share price moved down from N140 to N130, losing N10 or 7.14percent; while that of Dangote Cement Plc followed after its share price decreased from N173 to N170, losing N3 or 1.73percent.

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Nestle Nigeria Plc recorded the highest price advance, from N1225 to N1228, adding N3 or 0.24percent; followed by Nigerian Breweries Plc which moved up from N58 to N58.5, losing 50kobo or 0.86percent.

The volume of stocks traded increased by 74.52percent, from 100.37million to 175.16million, while the total value of stocks traded increased by 46.95percent, from N1.460 billion to N2.145 billion in 3,111 deals.                                                      

The Financial Services sector led the activity chart with 139.84million shares exchanged for N932 million; while Conglomerates followed with 15.036 million shares traded for N17million.

Iheanyi Nwachukwu

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By Israel Odubola • July 17, 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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