Why Nigerian stocks are turning around

Why Nigerian stocks are turning around

Why Nigerian stocks are turning around   After weeks of downtrend, the Nigerian equities market is beginning to see a turnaround to return to the green in the last two trading sessions, gaining marginally by N6 billion on Tuesday and N29 billion on Wednesday. In addition to the profits that brought respite to investors, the market on Wednesday saw improved activity level as volume and value traded soared significantly by 38.94 per cent and 84.14 per cent respectively. While rising yields in the fixed income market and profit-taking had been…

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Dead cat bounce as equities gain N6bn to halt downtrend

equities gain

Dead cat bounce as equities gain N6bn to halt downtrend There was a brief respite in the stock market on Tuesday as trading in the local bourse ended the day mixed but with bullish bias, equivalent to N6 billion for investors. The All-Share Index (ASI) notched 10.77 points or a per cent gain to close at 40,164.86 basis points while market Cap recorded same uptick to end the session at N21.015 trillion. Precisely, the positive earnings release from ZENITHBANK (+4.8 per cent) improved investors’ sentiments and supported market performance, despite…

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NSE daily turnover plunges 54% as market CAP sheds N15bn

Market CAP

NSE daily turnover plunges 54% as market CAP sheds N15bn     It was a grossly bearish session for equities investors trading on the floor of the Nigerian Stock Exchange (NSE) on Wednesday following multiple negative fronts recorded at the end of the session. As the market sustained its downtrend with additional N15 billion loss triggered by accelerated profit-taking charge, the market benchmark index contracted by 0.07 per cent to close at 40,465.32 basis points while aggregate equities value closed lower at N21.169 trillion. Trailing the negative path, turnover for…

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Equities reverse gain as investors lose N40bn

Equities reverse gain

Equities reverse gain as investors lose N40bn     Equities trading on the floor of the Nigerian Stock Exchange (NSE) on Tuesday closed on the negative route to upturn previous day’s gain as bears regained grip following sell-off witnessed on blue chip firms. However, the local bourse recorded 22 gainers against 20 losers to close the trading session on positive breadth amidst the bearish outlook. Consequently, the All- Share Index (ASI) dipped 77.32 basis points or 0.19 per cent to close at 40,494.35 index points as against 40,571.67 recorded the…

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Large cap stocks buoy NSE rebound amidst negative breadth

equities gain

Large cap stocks buoy NSE rebound amidst negative breadth   The benchmark All-Share Index of the Nigerian Stock Exchange (NSE) resisted further decline on Thursday, thereby halting eight successive sessions of losses on a very high traded volume and buying position of 100%. The day’s rebound followed gains by two high cap stocks- Dangote Cement and MTN Nigeria, as the market turned around and closed higher, even as the high transaction volume, just after previous day’s low suggests that the ongoing price correction may be temporary. The market, which had…

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Rising interests in fixed income assets spell doom for equities

interests in fixed income

Rising interests in fixed income assets spell doom for equities   Rising rate of fixed income assets yields is casting a shadow of doom on local equities market in Nigeria and this teamed up with profit-taking strengthen bear’s grip of the market last week. Through the five trading days of the week, investors were busy offloading some stocks to seek improved yield in the fixed income market and divert funds also into the cryptocurrency market, according to experts. Consequently the NSE All-Share Index (ASI) and market capitalization depreciated by 1.66…

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Investors count losses as stocks remain in red for 3rd day

Equities reverse gain

Investors count losses as stocks remain in red for 3rd day   Lose N216bn to profit-taking   Since the bears resurfaced at the Nigerian Stock Exchange (NSE) on Monday, investors have been recording losses at the close of each day up till midweek trading session on Wednesday. Bears’ grip on the market has resulted into N216 billion losses in market capitalization while the benchmark indicator tracking share prices at the bourse, the All-share Index (ASI) has depreciated by 412.65 points or 0.97 per cent within the three days. Specifically, from…

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Investors gain N181bn as equities sustain uptrend

Equities

Investors gain N181bn as equities sustain uptrend Wednesday was another day for investors in the Nigerian equities market to smile all the way to the bank following another wave of profit recorded at the end of the midweek trading session. As bullish sentiments persisted in the domestic equities market, market capitalisation gained N181 billion to close at N21.934 trillion. Similarly, the All-Share Index that measures share price movement in the market advanced by 0.83 per cent to 41,930.73 basis points following investors’ interests in bellwethers. The positive record of the…

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Equities: Selloffs in bellwethers trigger N55bn loss in 2 days

Equities reverse gain

Equities: Selloffs in bellwethers trigger N55bn loss in 2 days Selloffs in some bellwether stocks on Tuesday have forced the Nigerian equities market to remain in the green territory with sustained loss trend that revisited the market on Monday. Trading statistics obtained from the Nigerian Stock Exchange (NSE) shows that while the market shed N36 billion to open week on Monday, the bearish trend continued on Tuesday as investors lost another N16 billion. With an aggregate N55 billion loss in two days, the capitalization of equities investments at the bourse…

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Positive outlook on NGSE, but expect profit booking after 9 sessions of gains

Market Update for the Week Ended January 15 and Outlook for January 18-22 By Investdata Analysts The Nigerian Stock Exchange (NSE) sustained a positive momentum and bullish performance in the second trading week of 2021, which ended on Friday, reversing previous week’s profit booking on the back of a change in trading pattern. This was as bargain hunting continued ahead of the earnings reporting season. The National Bureau of Statistics (NBS), on Friday published data for December inflation rate, which spiked for the 16th consecutive month, closing at 15.78%, from…

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