NGSE outlook positive, time to diversify portfolio long-term ahead of possible correction

Equity market rebounds with N16bn gain

Market Update for the Week Ended October 2 and Outlook for Oct 5-9 By Investdata Analysts Nigeria’s equity market turned positive last week, extending its bullish-run for the second consecutive week, thereby breaking out the first major resistance level on strong positive sentiments for high-flyers and growth stocks, ahead of the Q3 earnings reporting season. The market rally and strong recovery seen so far are the results of increasing interests by smart money comprising foreign and domestic institutional investors, fund managers, pension fund administrators, high net worth individual, as well…

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Nigerian bourse sustains downtrend; index down 0.07%

Nigerian Equities stock index

The bears dominated the local bourse for the third consecutive session, as profit-taking on ZENITHBANK (-1.8%) and DANGSUGAR (-5.9%) stocks dragged the All-Share Index lower. Pertinently, the benchmark index inched lower by 0.07% to 25,533.35 points. Accordingly, Month-to-Date gain moderated to 0.8% while Year-to-Date loss increased to -4.9%. Similarly, market capitalization lost N9 billion, dragging the equities market valuation down to N13.344 trillion from N13.353 trillion it closed the preceding session. The total volume of trade increased by 9.2% to 231.20 million units, valued at NGN2.10 billion and exchanged in…

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