By


Election anxiety drags stock market index further by 1.2%


Nigerian Stock Exchange


Sell pressure ahead of the 2019 election has continued to propel volatility on the equity sector of the Nigerian Stock Exchange (NSE), as the All-share index recorded a loss of 1.2 per cent.
Specifically, at the close of transactions yesterday, the All share index (ASI) shed 364.13 absolute points, representing a dip of 1.20 per cent to close at 30,036.15.

Similarly, the market capitalisation shed N136 billion at N11.201 trillion.Tuesday’s downturn was impacted by price depreciation in medium and large capitalised stocks, among which are, Forte Oil, Presco, Guaranty Trust Bank, Flour Mills Nigeria, and Zenith Bank.

Analysts at Afrinvest Limited, said: “We believe that the bearish sentiment in the local bourse will remain driven by political jitters on the back of preparations for Nigeria’s presidential elections. We however expect mild bargain hunting to uplift market performance in tomorrow’s trading session.”
Market breadth closed negative with 12 gainers against 28 losers. John Holt recorded the highest price gain of 9.09 per cent to close at 48 kobo per share. Okomu Oil followed with a gain of 7.93 per cent to close at N83.75, while Union Bank of Nigeria (UBN) rose by 3.45 per cent to close at N6 per share, respectively.

Lafarge Africa appreciated 3.08 per cent to close at N11.70, while Honeywell Flour rose 2.70 per cent to close at N1.14 per share, respectively.
On the other hand, NEM Insurance led the losers’ chart by 9.40 per cent to close at N2.12 per share. Northern Nigeria Flour Mills (NNFM) followed with a decline of 9.38 per cent to close at N4.35, and Wapic Insurance fell 9.09 per cent to close at 40 kobo per share respectively.

Unity Bank was down by nine per cent to close at 91 kobo, while Aiico Insurance fell 8.82 per cent to close at 63 kobo per share, correspondingly.
Total volume traded went down marginally by 2.85 per cent to 216.25 million units, valued at N2.67 billion, and exchanged in 4,508 deals. Zenith Bank traded with 32.84 million shares valued at N679.77 million. FBN Holding followed with 27.46 million shares worth N199.3 million, while Transnational Corporation of Nigeria (Transcorp)  traded 26.37 million shares at N31.15 million.Guaranty Trust Bank traded 18.69 million shares valued at N608.01 million, while Diamond Bank transacted 14.91 million shares worth N28.22 million.

source:https://samueljackson12.blogspot.com/2019/01/election-anxiety-drags-stock-market.html

Comments

Post a Comment

Popular posts from this blog

Prostitution; Nigerian Women At Growing Risk From Human Traffickers In Germany.

By
Image
According to InfoMigrants, Nigerian women are at growing risk from traffickers in Germany who exploit and engage them in prostitution. Read the full report below by InfoMigrants. The new prostitute protection law in Germany was meant to identify victims of human trafficking – most of them migrant women. More than 18 months after the law came into effect, thousands continue to be targeted for exploitation, and the risk for Nigerian women seems to be increasing. There are campervans parked by the roadside. Some have hearts painted on them, one says “girls, girls” in red letters. It’s an easy matter for someone to stop for a quick transaction in one of these Love-Mobiles – sex with one of the “girls” in exchange for the going rate. Prostitution is mainly legal in Germany, as are these mobile brothels. But many of the women in the business – including those working from the Love-Mobiles – are victims of illegal human trafficking. Most of the women are from Eastern Europe or Nige...
Read more

FULL TEXT: A sacrifice for our new political order – Ezekwesili

By
Image
“When the ACPN leadership approached me in a series of visits to appeal that I run for office on their platform, the party appeared to be a good fit. It was founded by some disgruntled PDP members some years ago, but when its prime founder decided to return to the PDP, a core of its membership refused to move back with him. I was told that they stayed back because of their opposition to the ways of the PDP. Considering my vocal disapproval of the PDP and the APC, I admired the ACPN’s decision to stand firm and refusal to be co-opted.” It has been an interesting one week since I made the tough but necessary decision to suspend my campaign for the presidency. I have been truly overwhelmed by the reactions to my announcement from Nigerians. Even in airports outside the country as I travelled last week, Nigerians walked up to me with questions, concerns, encouragement, and motivation. I also saw disappointment by some who had poured their hearts and hopes into actualising our mission ...
Read more

Update On Slay Queen Who Was Stripped Naked And Tortured Over Missing Phone.

By
Image
The League of Patriotic Lawyers has given Edo State Commissioner of Police, Mr. Olusegun Odumosu, 24 hours to unravel those behind the torture and insertion of pepper into a girl’s private part in Benin City over alleged stealing of a mobile phone.  Chairman of the platform and former Student Union President of the University of Benin, Mr. Abubakar Yesufu, who said this in a statement yesterday, also urged the state Director, Department of State Services, DSS, to be involved in the investigation. A video of the incident, seen by Vanguard yesterday, showed the girl being stripped naked by a group of people, who inserted pepper into her private parts for allegedly stealing a phone. The unidentified girl was heard crying and saying she didn’t steal any phone, while she was being humiliated by the crowd. Yesufu said: “The League of Patriotic Lawyers has given the Edo State Commissioner of Police 24 hours to arrest and commence prosecution of all the street urchins behind thi...
Read more