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Equities shed N464 billion as profit taking halts bull run

TODAY
December 14, 2020
The equities market shed N463.7 billion last week as the bullish streak was halted by persistent profit taking. Following the unprecedented growth recorded in the month of November, many investors have been locking in profits. Despite the pockets of profit taking, the market had maintained a positive weekly performance.
However, that positive momentum could not be sustained last week as the Nigerian Stock Exchange (NSE) All-Share Index (ASI) went down by 2.5 per cent to close at 34,250.74. Similarly, market capitalisation shed N463.7 billion to be at N17.902 trillion.
The year-to-date (YTD) growth moderated to 27.6 per cent.
Although the profit taking is expected to continue, analysts remained optimistic, saying the market still offers better investment alternative. ....

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All-Share Index Rises 1.7% as Market Rebounds

Goddy Egene
The bulls came back strong yesterday to open the stock market on a positive note after depreciating last week.
Last week, the bull run was halted following sustained profit taking.
However, yesterday, the market appreciated lifting the Nigerian Stock Exchange (NSE) All-Share Index (ASI) by 1.73 per cent to close at 34,843.44. In similarly trend, market capitalisation added N309.8 billion to close at N18.2 trillion.
Market analysts had said while profit taking was expected to continue, the bulls would still have the upper hand.
“Yields in the fixed income market remain relatively unattractive, and we expect this to remain positive for stocks. However, we advise investors to take positions in only fundamentally justified stocks as the weak macro environment remains a significant headwind for corporate earnings,” analysts at Condros Research had said. ....

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Equities Shed N464bn as Profit Taking Halts Bull Run

Goddy Egene
The equities market shed N463.7 billion last week as the bullish streak was halted by persistent profit taking. Following the unprecedented growth recorded in the month of November, many investors have been locking in profits. Despite the pockets of profit taking, the market had maintained a positive weekly performance.
However, that positive momentum could not be sustained last week as the Nigerian Stock Exchange (NSE) All-Share Index (ASI) went down by 2.5 per cent to close at 34,250.74. Similarly, market capitalisation shed N463.7 billion to be at N17.902 trillion.
The year-to-date (YTD) growth moderated to 27.6 per cent.
Although the profit taking is expected to continue, analysts remained optimistic, saying the market still offers better investment alternative. ....

Albert Muchanga , Goddy Egene , Regency Assurance Plc , Ardova Plc , International Partnerships Jutta Uripilainen , Central Bank , Unity Bank Plc , International Trade Centre , Transcorp Hotels Plc , European Union Eu Commission , European Union , Condros Research , Wema Bank Plc , Cocoa Processors Plc , University Press Plc , Mutual Benefits Assurance Plc , Oando Plc , Nigerian Stock Exchange , Pz Cussons Nigeria Plc , Initiates Plc , Okomu Oil Palm Plc , Lafarge Africa Plc , Financial Services , Union Diagnostic Clinical Services Plc , Livestock Feeds Plc , Champion Breweries Plc ,