Friday, September 24, 2021

    Equities Market Rebounds by 1.27% amid Renewed Positive Sentiment…

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    Godwin Okafor
    Godwin Okafor is a Financial Journalist, Internet Social Entrepreneur and Founder of Naija247news Media Limited. He has over 16 years experience in financial journalism. His experience cuts across traditional and digital media. He started his journalism career at Business Day, Nigeria and founded Naija247news Media in 2010. Godwin holds a Bachelors degree in Industrial Relations and Personnel Management from the Lagos State University, Ojo, Lagos. He is an alumni of Lagos Business School and a Fellow of the University of Pennsylvania (Wharton Seminar for Business Journalists). Over the years, he has won a number of journalism awards. Godwin is the chairman of Emmerich Resources Limited, the publisher of Naija247news.

    In the just concluded week, the Nigerian
    equities market index halted its downtrend
    having traded on a bullish note in all five trading days.

    We saw renewed positive sentiment amid
    positive Q1 2021 Financial Results releases by corporates.

    Consequently, the NSE ASI
    increased week-on week by 1.27% to close at 38,808.01 points.

    Specifically, the NSE Banking index gained 4.82% to close at 359.57 points amid rising share prices of UBA, GUARANT and STANBIC.

    Similarly, performance across the
    remaining sub-sector gauges tracked closed in green zone; the NSE Insurance, NSE Consumer Goods, NSE Oil/Gas and the NSE Industrial indices rose by 0.40%, 1.05%, 0.29% and 0.50% to 194.12 points, 558.45 points, 265.65 points and 1,902.76 points respectively.

    Meanwhile, trading activity was mixed as total volume and value of stocks traded increased by 22.26% and 284.04% to 1.53 billion units and N41.31 billion respectively.

    However, total deals traded fell by 5.79% to 18,812 deals

    In the new week, we expect the domestic equities market to trade sideways even as Q1 2021 financial results roll in.

    As the financial results are released, investors are likely to tweak their positions in favour of companies that print good increases in earnings with possibility of high dividend payout ratio.

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