Goddy Egene
The nation’s stock market remained bearish last week leading to a decline of 0.15 per cent in the Nigerian Exchange Limited (NGX) All-Share Index to close at 38,808.01, while market capitalisation ended at N20.310 trillion.
The market had similarly dipped the previous week. However, unlike two weeks ago when the volume and value of trading also decline, investors staked more funds last week.
A total of 1.263 billion shares worth N10.759 billion were traded in 19,975 deals last week, up from 887.037 million shares valued at N9.193 billion that exchanged in 17,837 deals the preceding week.
After the earning season and as the second quarter began recently, investors are said to be realigning their portfolio with eyes on yield movements in the fixed income (FI) market. Also, the nation’s subsisting stagflation environment remains a potent threat to investment returns in the financial market.
Market data for the week ended 9th April 2021 revealed that the Nigerian Equity space closed on a negative note, as the All-Share Index and the market capitalization depreciated by -0.66%, to close the week lower at 38,866.39 and N20.335 trillion respectively.
This bearish move has been linked to the conclusion of an impressive annual reporting season, as this leaves few incentives to bet on slightly higher returns from equities, with the rising yields in the fixed-income market.
Some industrial, mining, and consumer goods stocks delivered decent returns during the week
Despite the prevailing bearishness in the market which impacted the performance of some key consumer and industrial good stocks on NSE last week, shares of the following industrial, mining, and consumer goods companies delivered decent returns for their holders during the week.
All-Share Index Falls 1 7% as Demutualisation Fails to Lift Market thisdaylive.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from thisdaylive.com Daily Mail and Mail on Sunday newspapers.
Lagos, March 8, 2021 The Nigerian equities market resumed trading for week upbeat on Monday with key indicators improving by 0.17 per cent.
Consequently, the All-Share Index garnered 64.96 points or 0.17 per cent to close at 39,396.57 compared with 39,331.61 recorded on Friday.
Similarly, the market capitalisation rose by N34 billion or 0.17 per cent to close at N20.612 trillion in contrast with N20.578 trillion posted on Friday.
The uptrend also driven by price appreciation in medium and large capitalised stocks amongst which are: Lafarge Africa, Ardova, FBN Holdings, Access Bank and Champion Breweries.
Analysts have expressed optimism that the stock market would witness a rebound in the absence of Nigerian Treasury Bill auction this week.
Ardova, Lafarge Africa, others lift market index by 0 17% guardian.ng - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from guardian.ng Daily Mail and Mail on Sunday newspapers.