Analysts Anticipate Soft Equities Market Trading This Week

  • 📰 LeadershipNGA
  • ⏱ Reading Time:
  • 85 sec. here
  • 3 min. at publisher
  • 📊 Quality Score:
  • News: 37%
  • Publisher: 77%

Ireland News News

Ireland Ireland Latest News,Ireland Ireland Headlines

BY OLUSHOLA BELLO, Lagos With the continued recovery of yields in the fixed income (FI) market, analysts on the Nigerian capital market anticipated a soft

With the continued recovery of yields in the fixed income market, analysts on the Nigerian capital market anticipated a soft equity market trading this week.

According to Cordros, “considering that the full year 2020 earnings season has run its course, we now expect investors’ sentiment to be influenced by developments in the macroeconomic landscape and corporate actions. Notwithstanding, we advise investors to take positions in only fundamentally justified stocks as the unimpressive macro story remains a significant headwind for corporate earnings.”

Weak reactions trailed the stock market as rates and yields further rise in the fixed income space, 364-day bill hit eight per cent. Consequently, the NSE All-Share Index fell 299.46 points or 0.76 per cent week-on-week to close at 38,916.7 points. Similarly, market capitalisation declined N157 billion W-o-W to close at N20.361 trillion.Sectorial performance was weak as three out of the five indices tracked closed in red; the NSE Banking, NSE Oil/Gas and the NSE Industrial indices fell by 1.

The market opened for four trading days last week, as a total turnover of 1.445 billion shares worth N19.039 billion in 17,400 deals were traded by investors on the floor of the Exchange, in contrast to a total of 1.530 billion shares valued at N21.311 billion that exchanged hands previous week in 20,016 deals.

On Exchange Traded Products platform, a total of 108,271 units valued at N445.285 million were traded last week in 16 deals compared with a total of 25,905 units valued at N208.954 million transacted previous week in seven deals, while on the bonds market, a total of 50,358 units valued at N55.298 million were traded last week in 14 deals compared with a total of 93,124 units valued at N97.453 million transacted previous week in 47 deals.

 

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 İE

Ireland Ireland Latest News, Ireland Ireland Headlines