Stock Market Continues on Bearish Steak as ASI falls by 0.09%
By UDO ONYEKA
The Nigerian Stock Exchange All Share Index (ASI), yesterday fell by 0.09 per cent amid sustained selloffs even as the Exchange printed 17 losers as against 13 gainers at the close of trading session.
The year to date gain of the local bourse moderated to 2.54 per cent. Tickers such as GT Bank, LAWUNION, Dangote Sugar suffered declining share prices, thus dragging the NSE Banking, NSE Insurance, NSE Consumer Goods and NSE Oil/Gas down by 0.55 per cent, 2.29 per cent, 0.15 per cent and 1.12 per cent
Meanwhile, market activity remained upbeat as the volume and value of stocks traded rose by 72.64 per cent and 132.96 per cent to close at 0.29 billion units and N5.02 billion respectively.
Meanwhile the Nigerian Stock Exchange (NSE) said it has published the maiden edition of StockTown, a comic book aimed at promoting financial literacy in Nigeria. Available in both print and digital formats, readers can download the book via http://www.nse-stocktown.com.
According to NSE StockTown makes use of illustrated characters story to educate readers of all ages about the importance of savings and investment.
“In its first issue, readers are introduced to Mora Johnson and her middle-class family who are experiencing financial hardship that pushes Mora to want to learn more about investment and financial independence”, a statement said.
Commenting on the comic book, Oscar Onyema, Chief Executive Officer, NSE said, “StockTown is the product of a passionate idea long held by the Exchange to empower individuals across all levels to make good financial decisions and better their lives now and in the future. In a drastically evolving financial landscape, The Exchange continues to find new ways to communicate the ideas of saving and investment using products available on its platform.
We hope this comic, which demonstrates the idea of buy and selling securities in simple terms can crowd-in the financially excluded, millennials and all lovers of comics.”
The launch of StockTown builds on the Exchange’s strong commitment to promoting financial literacy in Nigeria.
Annually, the Exchange implements initiatives targeted at children and youths, aimed at building a financially savvy generation.
The Exchange commemorates Global Money Week by hosting a workshop for youths at its offices and conducting outreach programmes in cities where it operates. In 2019, it reached over 60,000 youths during the weeklong programme.
Consistently, the Exchange hosts secondary schools, undergraduates and young upwardly mobile professionals to X-Tours, a financial literacy workshop that culminates in a tour of the trading floor and meeting with Stockbrokers.
Through these channels, NSE is making significant contributions to reducing the level of financial exclusion in Nigeria to 20 per cent in line with its mandate as a member of the National Finance Inclusion Steering Committee led by the Central Bank of Nigeria.
The NSE is also a member of the Financial Literacy Technical Committee of the Securities and Exchange Commission.