News Formal

Nigerian equities beat global stocks with N259b gains

  • 📰 TheNationNews
  • ⏱ Reading Time:
  • 19 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 11%
  • Publisher: 69%

Ireland News News

Ireland Ireland Latest News,Ireland Ireland Headlines

Nigerian stocks played the contrarian at the weekend with a net capital gain of N259 billion in a week marked by general decline in share

A market-wide rally drove the Nigerian market to average gain of 1.27 per cent at the weekend, equivalent to net capital gains of N259 billion. The rally moderated the negative average year-to-date return for Nigerian equities to -2.41 per cent.

Review of the trading reports showed that the rally was driven by bargain-hunting across the sectors , especially the banking sector, as investors realigned portfolios in expectation of first quarter earnings. Analysts at Cordros Securities said they expected the market to be flooded with results as the first quarter 2021 earnings season commences in full swing.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

Watch here

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:

 /  🏆 6. in İE

Ireland Ireland Latest News, Ireland Ireland Headlines

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

Bank stocks gains help stop Nigerian equities from sinking furtherA positive market breadth posted as there were 24 gainers against 17 losers.
Source: PremiumTimesng - 🏆 3. / 78 Read more »

Nigerian stocks rise further on bank stock gainsThe benchmark index edged 0.29 per cent higher.
Source: PremiumTimesng - 🏆 3. / 78 Read more »

Nigerian stocks shed N274bn on profit-taking in blue-chip equitiesMarket breath closed on a negative note, with 25 losers recorded compared to 19 losers.
Source: PremiumTimesng - 🏆 3. / 78 Read more »