Analysts anticipate dim equity market outlook as investors lose N137bn

the market outlook for this week is likely to dim, even as they cautioned investors to take advantage of the falling prices to boost their portfolios. They further tipped insurance stocks to be the stock to watch this week following their low trading prices.

Analysts at Vetiva Capital Management in its market reaction said: “As the Nigerian Stock Exchange, NSE All Share Index, ASI continues to trade comfortably below 30,000 points, the outlook appears dim. However, we expect investors to take advantage of beaten down prices at week open but do not rule out the possibility of further sell-offs.”After losing earlier last week, Sovereign Insurance Plc gained 870 bases points, bps, Friday, to settle at N0.25 as investors took advantage of the price.

Meanwhile, analysis of trading last week showed that investors lost over N137 billion as market capitalisation which represents investors’ worth on the Exchange declined to N10.842 trillion from N10.979 trillion recorded penultimate week. Similarly, another stock market gauge, the ASI declined to 28,847.81 points from 29,212.00 points recorded penultimate week. Amid sustained profit taking, all of the five indices closed in negative territory: NSE Banking, NSE Insurance, NSE Consumer Goods, NSE Oil/Gas and NSE Industrial indices fell by 2.77 percent, 1.74 percent, 0.23 percent, 5.29 percent and 0.36 percent to 370.27 points, 118.63 points, 669.53 points, 264.90 points and 1,096.75 points respectively.

Canada Canada Latest News, Canada Canada Headlines

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

Nigeria equities market defies Emefiele’s reappointment, down by N20bn – Daily TrustInvestors on the Nigerian Stock Exchange (NSE) on Friday reacted negatively to the reappointment of Mr Godwin Emefiele for second term as the Central Bank of Nigeria (CBN) Governor by President Muhammadu Buhari. The News Agency of Nigeria (NAN) reports that contrary to market operators’ expectations, the crucial market indices maintained negative outlook for fifth … Making a mistake is a mistake but repeating a mistake is not a mistake.
Source: Daily Trust - 🏆 13. / 51 Read more »

Nigeria equities market defies Emefiele’s reappointment, down by N20bn - Premium Times NigeriaMarket capitalisation, which opened at N10.860 trillion shed N20 billion to close at N10.840 trillion. Welcome speech by equity Down by N20b means those are fake investors looking for short term quick gain. Long term investors don't care who they appoint as CBN director.
Source: PremiumTimesng - 🏆 3. / 78 Read more »

Positive internal, external factors point to equity market rebound in Q3 —FOLLOWING the protracted bearish run in the equities market, Prof. Uche Uwaleke, Head, Banking and Finance Department, Nasarawa State Unive equity market
Source: vanguardngrnews - 🏆 5. / 75 Read more »

Equities Market To Rebound In Q3Unveiling higher earnings opportunities in the Nigerian stock market, head, Banking and Finance Department, Nasarawa State University, Keffi, Prof. Uche Joe Uwaleke, expressed optimism that the stock market would rebound in third quarter of the year. Uwaleke, said this yesterday in Lagos, as a guest lecturer at the Capital Market Correspondent’s Association of Nigeria (CAMCAN), […]
Source: LeadershipNGA - 🏆 4. / 77 Read more »

Expect equity market rebound in Q3 — Prof Uwaleke – Daily TrustInvestors have been urged to take advantage of prevailing low equities pricing in the stocks market to boost their investments in the market in order to take opportunities of market reversal commencing end of second quarter. Professor of Finance and Capital Market and Head of Banking and Finance, Nasarawa State University, Keffi, Uche Joe Uwaleke, …
Source: Daily Trust - 🏆 13. / 51 Read more »