Nigeria Equities Market Rises by 0.52% as Investors Maintain Bullish Sentiments…

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In the just concluded week, the Nigerian Stock Exchange witnessed sustained bullish run, resulting in the rise of the overall market performance measure, NSE ASI, by 52bps to close at 26,991.42 points in line with our expectation.

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Hence, the year-to-date loss of local equities reduced to 14.12% from 14.57%.

On the sectoral front, the NSE Insurance, NSE Consumer Goods and NSE Oil & Gas Indices increased by 46 bps, 602 bps and 216 bps respectively to close at 120.28 points, 517.43 points and 235.99 points respectively.

However, the NSE Banking and the NSE Industrial Indices moderated by 86bps and 225bps to settle at 363.61 points and 1,079 points respectively.

Meanwhile, total deals, transacted volumes and Naira votes decreased w-o-w by 7.08%, 32.03% and 49.07% to 20,303 deals, 1.42 billion shares and N17.25 billion respectively.

In the new week, we expect the equities market to close in green as investors seek positive real returns on investment amid increasing inflation rate.

Hence, we expect the shrinking yields on fixed income securities to single digit to fuel the inflow of funds into equities market.

Emman Tochi
Emman Tochihttps://naija247news.com
Emma Tochi is Naija247news Media Northern Bureau Chief, he's based in FCT Abuja. He overseas the northern operations of this business media

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