Nigerian Stock Exchange (NSE)
As investors worry over the continuous uptick in yields in the fixed income market, negative sentiments persisted on the Nigerian Stock Exchange (NSE) for the second consecutive week, causing the All-Share Index (ASI) and market capitalisation to fall by 3.04 per cent to close last week at 40,439.85 and N21.156 trillion respectively.
Performance in the stock market ended southwards following losses recorded four trading sessions.
All other indices finished lower except NSE Growth Index which rose by 0.42 per cent while the NSE ASeM and NSE Sovereign Bond Indices closed flat.
Analysts linked investors’ downbeat mood during the week to the result of the treasury bills auction wherein average stop rates rose by 105bps to 2.33 per cent (from 1.28 per cent at the last auction).
Trading in the domestic equities market commenced the week on a positive note, growing by 0.33 per cent due to buying interests in Seplat, Lafarge Africa and Tier-1 banking stocks.
After days of a persistent bearish trend, transactions on the nation’s bourse rebounded on Thursday by 0.78 per cent following buying interest in Dangote Cement
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’Femi Asu
The nation’s stock market halted its eight-day losing streak on Thursday on the back of the price appreciation recorded by Dangote Cement Plc and six other stocks.
The market, which had declined for eighth straight trading sessions amid negative sentiment, rebounded on Thursday despite the losses recorded by 46 stocks.
The All-Share Index of the Nigerian Stock Exchange rose by 0.78 per cent to 41,014.30 basis points while the market capitalisation increased by N170bn to N21.29tn.
The top five gainers at the end of trading on the floor of the NSE were Dangote Cement, Mutual Benefits Assurance Plc, Sovereign Trust Insurance Plc, Vitafoam Nigeria Plc and Unilever Nigeria Plc.
Lagos, Feb. 10, 2021 The bears continued to dominate trading on the Nigerian Stock Exchange (NSE) on Wednesday with investors losing N426 billion in about six hours of trading.
Consequently, the market capitalisation which opened at N21.715 trillion shed N426 billion or 1.96 per cent to close at N21.289 trillion due to massive profit-taking.
Similarly, the All-Share Index dipped 814.15 points or 1.96 per cent to close at 40,696.01 from 41,510.16 recorded on Tuesday.
The market loss was driven by price depreciation in large and medium-capitalised stocks amongst which were; Fidson, Chemical & Allied Products, Regency Alliance Insurance, Sovereign Trust Insurance and Sunu Assurance.
Mr Ambrose Omorodion, Chief Operating Officer, InvestData Ltd., attributed the persistent lull to profit-taking and sell pressure, ahead of earnings season.