Downtrend persists as Nigerian stocks shed fresh N92bn

Equities regain strength as investors net N134bn gain

Downtrend persists as Nigerian stocks shed fresh N92bn   The Nigerian stocks market continued on a losing streak as the ASI dipped by 0.44 per cent to close at 39,522.06 at the end of midweek trading session, having shed 175 points. At the close of market proceedings, investor experienced another round of losses as the aggregate worth of the domestic equities market shed N92 billion to settle at N20.678 trillion, pushing down the year-to-date (YtD) performance to -1.86 per cent. Specifically, sell pressures in NEM (-9.91 per cent), CHAMPION (-9.97…

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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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Nigerian stocks rally N1.334trn gain in 5 days

equities index rebounds by 0.17

Nigerian stocks rally N1.334trn gain in 5 days   It was called a Santa Rally by analysts in the capital market and such description was not misplaced for addressing Nigerian stocks which came to the end of a brief profit-taking trend last week by record astounding gains. Last week, the bulls returned strongly to the domestic equities market as investors smiled all the way to the bank with a N1.334 trillion profit, following 7.46 per cent appreciation in the market index as against 2.53 per cent loss the previous week.…

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NGSE index soars further, as investors seek sound stocks, div history, high payout

Twitter Stock

Market Update for October 27 By Investdata Analysts Equity prices closed higher on the Nigerian Stock Exchange (NSE) Tuesday, as the All-Share index sustained its positive momentum and bullish trend on high traded volume and buying pressure, as normalcy gradually returns to the nation after weeks of #EndSARS protests across the country, that led to last Tuesday’s shooting by soldiers at protesters in Lekki toll plaza in Lagos. This had been followed by wanton destruction of public and private property and looting of palliative warehouses among others. The number of…

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Nigerian stocks retain bullish sentiments with N98bn profit

Stock bull

Bullish sentiments were sustained on the local bourse at the start of the week, as interest in MTN Nigeria (2.0 per cent), WAPCO (6.3 per cent) and FBNH (3.9 per cent) drove the ASI to its seventh consecutive gain. Thus, the benchmark index rose by 0.72 per cent to 26,507.84 basis points after gaining 188.5 points. Consequently, the Month-to-Date (MtD) gain increased to 4.7 per cent while the Year-to-Date (YtD) loss moderated to -1.3 per cent. This development amounted to a gain of N98 billion which is an extension of…

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Profit Taking, Portfolio Realignments Ahead, As Investors React To UBA’s Interim Div Cut

Nigerian Stock market

By Investdata Analysts Tuesday trading session on the Nigerian Stock Exchange (NSE), the first for September, maintained a positive outlook, to start the final month of Q3 higher, thereby extending its bull transition for the third consecutive day on improved gaining momentum and huge traded volume that is driven by buying position in UACN Property Development Company Plc. The positive sentiment and demand for highly capitalized stocks during the session helped the benchmark index to close higher, regardless of the fact that dividend paying banks on Monday informed investors of…

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Stocks lose N257bn to weak investors’ appetite

Equities shed N7bn as banking stocks go bearish

The Nigerian stocks closed last week on a negative note as investors’ risk appetite remained weak amid expectation of poor half-year performance. Meanwhile, the stock market’s movement aligned with several projections by investment analyst firms and individuals who envisaged that the month of July is in for slow activities and negative sentiment. The market shed N257 billion at the close of the first week in the month as the All-Share Index (ASI) of the Nigerian Stock Exchange (NSE) plunged by 2.03 per cent to close lower 24,336.12 basis points. Similar…

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Foreign investors keep shunning Nigerian stocks

Outflow, foreign investors, Nigerian stocks, FPI,

Net outflow soar to N131bn in 5 months ____________________________________________________ Increasingly, the disinterest and loss of enthusiasm of foreign investors in staking their fortune on equities at the Nigerians Stock Exchange (NSE) is alarming. Already, their withdrawal from the market over the years has brought their local counterparts to the limelight as the golden sons of the market as they are now responsible for the overwhelming percentage of transactions at the bourse. This is again supported by the latest foreign portfolio investment (FPI) report released by the NSE for the month…

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