Goddy Egene
The nation’s stock market remained bearish last week leading to a decline of 0.15 per cent in the Nigerian Exchange Limited (NGX) All-Share Index to close at 38,808.01, while market capitalisation ended at N20.310 trillion.
The market had similarly dipped the previous week. However, unlike two weeks ago when the volume and value of trading also decline, investors staked more funds last week.
A total of 1.263 billion shares worth N10.759 billion were traded in 19,975 deals last week, up from 887.037 million shares valued at N9.193 billion that exchanged in 17,837 deals the preceding week.
After the earning season and as the second quarter began recently, investors are said to be realigning their portfolio with eyes on yield movements in the fixed income (FI) market. Also, the nation’s subsisting stagflation environment remains a potent threat to investment returns in the financial market.