Stock Investments Drop By N1.02trn As Buyers Shift To Fixed Income

  • 📰 LeadershipNGA
  • ⏱ Reading Time:
  • 43 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 20%
  • Publisher: 77%

Business Business Headlines News

Business Business Latest News,Business Business Headlines

Investments on the Nigerian stock market declined by N1.022 trillion in the first five months of the year. Capital market analysts attributed the decline

Speaking on market performance for the first five months of the year, the founder of Tradelines DotBiz Investment Limited, Mr Tunde Jeariogbe, said equities performances on the floor of the Nigerian Stock Exchange were mixed, with January and April closing in the positive territory, while February, March and the just concluded month of May dragged performances through the bearish region.He noted that, “in all, the All-Share Index recorded year-to-date loss of 4.

He stated that, “we cannot rule out reactions to MPC meetings held so far in the year. Although the NBS reported a marginal adjustment in the inflation numbers for the month of April, and an 0.51 YoY growth in the nations GDP for the first quarter of the year, the impact was more negative on equities performances. It must also be mentioned that, the improvement in the fixed income market saw less risky funds out of the Equities market.

Responding, an analyst at PAC Capital, Wole Adeyeye, attributed the decline to high yield on fixed income market, and fear of naira devaluation to led to foreign investors’ exit. Also, the CEO of Greenville Capital Limited, Mr Azeez Bello stated that, “the equities market performance has mutedly been bearish with shy buying interest from investors for the five months ended May, 2021.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 4. in BUSİNESS

Business Business Latest News, Business Business Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

‘$500m Investment Underway in Ogun’Hamid Ayodeji The paper industry in Ogun State is about to get a big boost as the Dahua Paper Company Nigeria Limited, Owiwi in Ewekoro Local Government Area of the State says it is set to invest $…
Source: THISDAY LIVE - 🏆 14. / 51 Read more »

22m Job Loss: US Plans $2trn Investment On Clean EnergyBY CHIKA OKEKE, Abuja Determined to create alternative employment for 22 million Americans that lost their jobs during the COVID-19 pandemic, the United
Source: LeadershipNGA - 🏆 4. / 77 Read more »

5,300 youths have benefited from Nigeria Youth Investment Fund – Buhari - Daily Post NigeriaPresident Muhammadu Buahri on Saturday declared that over 5,300 youths have benefited from the N75 billion Nigeria Youth Investment Fund (NYIF). The NYIF Lol Who're the said youths na U mean northern youths have benefited from the southern oil wealth?
Source: DailyPostNGR - 🏆 11. / 59 Read more »

Insecurity: Protect our investment, Flour Mills tells State GovermentsFLOUR Mills of Nigeria, FMN, weekend, called on state governments to do all they could to ensure adequate protection of its investments from all forms of insecurity, in order to ensure increased investments nationwide.
Source: vanguardngrnews - 🏆 5. / 75 Read more »