Equities Market: Investors Gain N49bn In 3 Months

Despite the inflows of company’s audited results for the year ended December 31, 2018, activities on the equities market on the Nigerian Stock Exchange , in the first three months of the year closed on a downward note, resulting in N49 billion loss to the investors.

Performance across the major sectoral indices was mixed, with the Banking, Premium board, Lotus II, Industrial Goods and Alternative Securities Market indices closing in positive territory with a gain of 1.26 per cent, 1.69 per cent, 1.51 per cent, o.15 per cent and 1.69 per cent, respectively. On the other hand, Consumer Goods Index declined the most by 5.01 per cent. Oil and Gas index followed with a decline of 3.87 per cent, while NSE 30 and Insurance indices depreciated by 1.

Also, total value of transactions executed by foreign investors in February 2019 outperformed those by domestic investors by six per cent, just as transactions executed revealed that total foreign transactions increased by 48 per cent from N66.85 billion in January 2019 to N98.94 billion. According to him, for now, I think a lot of things are still not yet in place and it is affecting impressive corporate earnings of listed companies. The 2019 budget is still pending. The buildup to 2019 general elections and after has led the oppositions to context the outcome and at the same time, the foreign portfolio investors who have pulled out before are not yet convinced to come back.

Analysts at United Capital Plc noted that in the wake of the elections, total Foreign Portfolio Investments worth $3.2 trillion has been recorded via the Investors & Exporters FX window. Strangely, this inflow has only trickled down to fixed income assets, while the equities, however, have declined. The chief executive officer, NSE, Mr. Oscar Onyema early in the year said, “We expect that the stable economic activity across Emerging Markets, following a stalled rally in the US Dollar and expectations of stronger fundamentals within Africa’s frontier market securities will be favorable to the Nigerian market.

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