Home Skytrend Consulting Blog NSE index plummets further by 0.25%

NSE index plummets further by 0.25%

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NSE index plummets further by 0.25%

NSE index plummets further by 0.25%

The All-Share Index (ASI) of the equity sector of the Nigerian Stock Exchange (NSE) plummeted further on Friday December 4, 2020 by 0.25%.

This, according to analysts may be due to negative market sentiments.

At the closed of transactions, ASI shed 87.88 absolute points, representing a decline of 0.25 per cent, to close at 34,968.94 points while the market capitalisation value also declined by N46 billion to close at N18.277 trillion.

The downtrend was driven by price depreciation in medium and large capitalised stocks – Guaranty Trust Bank, Flour Mills of Nigeria, Cadbury Nigeria, United Bank for Africa (UBA) and Zenith Bank.

Market sentiment, as measured by market breadth, was negative as 25 stocks declined relative to 13 gainers

The total volume of trades decreased by 21.5% to 289.394 million units, valued at N7.348 billion and exchanged in 4,878 deals.




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7 COMMENTS

  1. From my close observation of the Nigerian stock market for the past 17 years, I came to the conclusion that the market movement is not significantly influenced by the statistics of economic bouyancy/recession.
    Nigeria is not a real estate economy but a money market economy hence stocks respond to monetary policies far more than they do to actual concrete economic statistics. Right now, the latest MPR policy from the CBN disfavours keeping money in banks hence these moneys are beginning to find their ways into the stock market.
    It was the same pattern from October 2017 to January 2018.

  2. I would rather think that this is a mere retracement as the forces of CBN’s MPR new policy which triggered the rise are still in place. I see a wild raging bull on the floor beginning from January 2021. A likely repeat of the over 2 weeks bullishness of January 2018 by which stocks gained their daily maximums every day for 2 trading weeks.

      • From my study and close observation of the Nigerian stock market for the past 17 years, I came to the conclusion that the market movement is not significantly influenced by the statistics of economic bouyancy/recession.
        Nigeria is not a real estate economy but a money market economy hence stocks respond to monetary policies far more than they do to actual concrete economic statistics. Right now, the latest MPR policy from the CBN disfavours keeping money in banks hence these moneys are beginning to find their ways into the stock market.
        It was the same pattern from October 2017 to January 2018.

  3. Na only that? My brother if you don summit quotation anywhere you better go review am now to avoid tears at las

    • My wife just came for her review to renegotiate things😅😅😅 The FGN is also reviewing it’s agreement with ASUU

    • Not too bad at a time like this. It could be worse. Policy somersaults by CBN and the government at the centre is not exactly investor friendly in the short term.

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