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Goddy Egene The Nigerian stock market shed N368 billion last week following profit-taking activities by some investors after the massive gains in January. The market had appreciated by N1.1 trillion in January due to sustained high demand for stocks. However, the bears set in the first week of February as some investors moved in to lock in part of the gains. Bearish sentiments dominated the local bourse in all the five trading sessions. Consequently, the Nigerian Stock Exchange (NSE) All-Share Index (ASI) fell by 1.66 per cent to close lower at 41.709.09, while market capitalisation shed N368 billion to be at N21.819 trillion. ....
Goddy Egene The stock market rebounded last week recording a gain of N552 billion after declining in the first week of the year. After posting a record growth in 2020, profit-taking by investors made the market close with a decline of 0.37 per cent in the Nigerian Stock Exchange (NSE) All-Share Index (ASI) and N78.7 billion in market capitalisation in the first week. However, the market recovered in the second week with the market capitalisation adding N552 billion to close at N21.530 trillion while the NSE ASI rose by 2.63 per cent to be at 41,176.14. The growth followed renewed demand by investors who are cherry-picking stocks with attractive dividend yields ahead of full year 2020 dividend declarations. ....
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. ....
Weekly Economic Index: Monetary reforms could unlock Nigeria's growth potential venturesafrica.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from venturesafrica.com Daily Mail and Mail on Sunday newspapers.
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. ....