Tuesday through Friday, Nigerian equities posted minimal gains, helping the week return 1.23 per cent, but growth for the quarter and for the year so far remains negative, with investor confidence in the market too low to bring back activity to its pre-pandemic levels.
Foreign capital inflow to the Nigerian bourse last year added up to N247 billion against N419 billion, according to the Nigerian Exchange data. That same year, foreign transactions touched their three-year low, sinking to just about a third of the turnover as the forexAs rebound of Nigerian stocks shapes up slowly, traders’ greater focus will be on the half-year earnings of companies which will be due by the end of June, expecting that good results will stoke share value.
Trade volume of 1.082 billion shares estimated at N9.548 billion was recorded in 17,933 deals, relative to the 1.037 billion shares worth N9.471 billion that were traded in 17,577 deals the previous week.