Expect Mixed Trend, Ahead Of Weak Q2 Earnings Reports, June Economic Data

Expect Mixed Trend, Ahead Of Weak Q2 Earnings Reports, June Economic Data

Market Update for July 13 Trading activities, Monday, continued on the Nigerian Stock Exchange (NSE), extending the negative outlook of last week by wiping out Friday’s marginal gains as profit taking hit banking stocks, made worse by selloffs in the high cap equities. It was a mixed but high volatility session, especially as the composite NSE All-Share index traded below the 20 and 50-Day Moving Average on a very higher traded volume. The index closed lower on the first trading day of the week. Just as discussed in our market…

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Banks as economic indicator to watch when investing and trading

stocks investment, equities

By Ambrose Omordion    Following the recent rally on the Nigerian Stock Exchange (NSE), especially among banking stocks, we believe that the time has come for investors to trade and invest with caution, considering the sharp disconnection between the market’s performance and economic realities in the country. This is so because the rally we saw recently lacks any fundamentals to support the move and is in fact a disconnect from the realities in the environment, even when the recovery seems to be normal after the sharp decline witnessed in February and…

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