Saturday, June 19, 2021

    Equities Market Index Rebounds by 0.72% amid Renewed Bullish Activity…

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    Naija247news Media, New York
    Naija247news is an investigative news platform that tracks news on Nigerian Economy, Business, Politics, Financial and Africa and Global Economy.

    In the just concluded week, sentiment was
    majorly bullish, despite the short trading days, as investors hunted for bargains in the market.

    Hence the index closed positive throughout the three-day trading session.

    Notably, investors focused on banking and insurance stocks given the appreciative dividend yield, especially on the banking stocks.

    Consequently, the NSE ASI rose week-on week by 0.72% to close at 39,481.89 points while the YTD loss of the NSE ASI moderated to -1.96%.

    Similarly, sectorial performance was positive as all the indices tracked closed in green zone; the NSE Banking, NSE Insurance, NSE Consumer Goods, NSE Oil/Gas and the NSE Industrial indices rose by 3.72%, 3.97%, 0.32%, 0.10% and 0.78% to 367.42 points, 204.89 points, 563.58 points, 285.47 points and 1,931.54 points respectively.

    Meanwhile, trading activity was weak as total deals, volume and value of stocks traded fell by 17.76%, 34.51% and 33.71% to 14,034 deals, 0.84 billion units and N9.5 billion respectively.

    In the new week, we expect the equities market to sustain its performance as the equities market provides an opportunity for positive real returns despite rising inflation rate.

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