2020: Stock Market Soars to Positive Close

With about six trading days left in 2020, the stock market has recovered from the decline suffered in 2018 and 2019 and is set to close with a growth of about 40 per cent, writes Goddy Egene

“Expectedly, investors took flight for safety and reverted to purchase of equities with multiplier effects on the rise in many performance indicators. The NSE remains an investment destination,” he said. “Barring unforeseen circumstances, the exchange is likely to commence demutualisation and this will change the structure of the market as the current owners, the dealing member firms shall become shareholders and thus bring a new era of corporate governance on the NSE.

However, it appears local investors will be the major determinant of the outlook as higher yields from United States markets may keep foreign investors away for some time. By and large, 2020 appears more promising that the previous years because the valuations of the stock market instruments are becoming more attractive to all the various classes of investors,” Dada said.

He noted that the exchange’s new free float rule expected to commence on January 2, 2020 would improve market liquidity and transparency, thereby impacting positively on the market. He added that despite the lockdown and many businesses were counting their losses, investors were demanding for the stocks of companies in the healthcare, food and household products and telecommunications sectors, explaining that these sectors are believed to be favoured by the COVID-19 pandemic.

“The various cash injections following the COVID-19 palliative by governments and donor agencies helped to give impetus to the economy and by extension and vigour to the capital market. With the reintroduction of FX window options by the Central Bank of Nigeria , it is expected that the market will continue in its recovery trajectory,” Ezeagu said.

Equally speaking, Head of Research, United Capital Plc, Mr. Wale Olusi, said the Nigerian equity market sustained the bullish trend in the month of August as investors continue to cheery pick on oversold stocks amid sustained decline in the yield environment. “Following the payment of interim dividends, investors are positioning in fundamentally sound counters ahead of third quarter earnings reports. Also, end of month portfolio rebalancing contributed to the positive tilt of the market,” analysts at Greenwich Research said.

Because of ASUU 😊

Both baby and adult ostrich bird available for sales... contact Mr Karim for more information about us on:09063740347

Both baby and adult ostrich bird available for sales... contact Mr Karim for more information about us on:09063740347

Follow for follow

Breaking News! You just gained one Twitter follower. Follow me and I will follow you back. Follow 👉👉 ElevationToday 💯💯♥️♥️ ifb

Россия Последние новости, Россия Последние новости

Similar News:Вы также можете прочитать подобные новости, которые мы собрали из других источников новостей

Nigeria Stock Market Ends 2020 With 50.03% GrowthThe nation’s bourse on Thursday closed 2020 upbeat, appreciating by 50.03 per cent, with the All-Share Index crossing the 40, 000 mark on the last trading
Источник: LeadershipNGA - 🏆 4. / 77 Прочитайте больше »

Fiona Ahimie Reflects on Market Performance in Nigerian Stock MarketThe Managing Director of FBNQuest Securities, Fiona Ahimie, reflects on the performance of the Nigerian stock market, the market performance and the strong stock market rally, and how new products …
Источник: THISDAY LIVE - 🏆 14. / 51 Прочитайте больше »

Nigerian Govt raised 'N2.36trn from capital market in 2020'The government accounted for about 92 per cent of total bond issuances on the NSE in a bid to finance fiscal and infrastructure deficits. dem go still borrow money again. awon werey
Источник: PremiumTimesng - 🏆 3. / 78 Прочитайте больше »

NSE Leads Global Stock Market in Performance•Heads for best annual return in seven years By Goddy Egene The Nigerian Stock Exchange (NSE) All-Share Index is closing 2020 as the best performing, recording a growth of 47.2 per cent a day to en… How come 🙂 Liar liar. Stop giving Nigeria economy a favourable out look because it is already a failed economy.
Источник: THISDAY LIVE - 🏆 14. / 51 Прочитайте больше »

Stock market stable with N1trn gainThe positive performance on the floor of the Nigeria Stock Exchange (NSE) persisted in the equities market on the back of gains in Oando (+27.3 per cent), Mansa
Источник: Daily Trust - 🏆 13. / 51 Прочитайте больше »