Unrelenting bears push Nigeria’s Bourse further into negative territory

The IFC will collaborate with the NSE to reduce employment and entrepreneurship gaps in Nigeria.

The Nigerian Stock Exchange (NSE) All Share Index (ASI) on Tuesday continued its loitering in the negative territory as insistent Bears pushed the market to another negative close.

The record -0.13percent decline on Tuesday February 9 fueled the month’s dip now at -2.13percent thereby moderating the record year-to-date (YtD) positive return to 3.08percent.

Amid scarcity of positive news capable of reversing the bearish trend, the stock market may close further in red on Wednesday.

At the close of trading session, the NSE ASI moved from 41,564.31 points to 41,510.16 points while market capitalisation, a measure of value of listed stocks on the domestic bourse decreased by N29billion, from N21.744trillion to N21.715trillion.

Unrelenting bears push Nigeria’s bourse further into negative zone

By Iheanyi Nwachukwu • February 9, 2021

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.