Stocks pull back amid fears of MPR adjustment

Equities shed N7bn as banking stocks go bearish

Stocks pull back amid fears of MPR adjustment   As Index dips by by 0.42%, as analysts urge caution   As investors await the outcome of the next Monetary Policy Committee (MPC) meeting, amid fear of possible adjustment in rate, sentiments turned bearish as profit-taking dominated market performance at the equity sector of the Nigerian Stock Exchange (NSE) last week. The development caused the NSE All-share index (ASI) and market capitalisation to depreciate by 0.42 per cent and 0.38 per cent to close the week at 41,001.99 and N21.449 trillion,…

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Dangcem, CAP lead N133bn gain as equities market value surpasses N16trn

Highcap stocks lead in N356bn gain to lift Cap to N20.652trn

The Nigerian local bourse rebounded on Tuesday, following significant interest in DANGCEM that led to 5.6 per cent, alongside CAP Plc and 23 other gaining stocks Thus, the All Share Index (ASI) recorded its first gain in November, as it advanced 254.08 points or 0.83 per cent to close the session at 30,733.47 basis points. Accordingly, Month-to-Date return (+0.7 per cent) turned positive, as Year-to-Date gain of the market increased to 14.5 per cent. In essence, the index rise on Tuesday amounted to N133 billion profit for investors and this…

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Nigerian equities Sheds 0.17% as profit-taking returns

Nigerian equities Sheds 0.17% as profit-taking returns

Nigerian equities Sheds 0.17% as profit-taking returns Trading in the domestic equities market started the week and month on a sour note, as sell-offs of some banking stocks – majorly ETI (-8.9 per cent), FCMB (-9.9 per cent) and ZENITHBANK (-0.7 per cent) — dragged the market down to close the Monday session. As investors sell stocks that have appreciated in recent times to book for profit, the development caused the All Share Index (ASI) to record its first loss in seven consecutive sessions, as it declined by 0.17 per…

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ThingsToKnow: ‘CLOSE PERIOD’ in the stock market

ThingsToKnow: ‘CLOSE PERIOD’ in the stock market

The close period (or closed period) is the time between the completion of a listed company’s financial results and the announcing of these results to the public. The close period is typically regarded as the one-month period preceding the release of a company’s quarterly results, and the two-month period before the release of its annual results. The close period differs from a quiet period, where companies are required to embargo any public promotions before an initial public offering (IPO) is made. Key Takeaways The close period, in accounting, is the time span covering…

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NSE nets N1.2trn turnover in 8 months

NSE completes demutualisation but the work has just begun

Expatriates remain aggressive sellers As locals dominate market by 6o.86% ________________________________ Between January and August 2020, various categories of investors dealing in shares at the Nigerian Stock Exchange (NSE) transacted shares worth N1.201 trillion. The figure represents deals by local and portfolio investors, retail traders and their institutional counterparts, who, for a larger part of the period, resorted to remote trading as the NSE trading floor was put under lock due to Coronavirus pandemic. Via the latest portfolio investment report released by the bourse, Business Metrics learnt that the recorded…

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