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Investors gain N894bn as blue-chip stocks drive trading

Weekly Economic Index: Dashed hopes for Dash, Niger s budget cut, and the Gaza conflict

Weekly Economic Index: Naira afloat, student loan for Nigerians, and President Ruto s de-dollarization campaign

Weekly Economic Index: Naira afloat, student loan for Nigerians, and President Ruto s de-dollarization campaign
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Capital market rebounds as ASI gains ground

Entry Opportunity for Investors as Equities Decline Further

Goddy Egene Equities investors have an opportunity to enter the market at good valuation as bears depressed prices further last week. The market, which had gained N148 billion the previous week, shed N603 billion last week following sell pressure that dominated all trading sessions. The Nigerian Exchange Limited (NGX) All-Share Index (ASI) fell 2.93 per cent to close at 38,324.07, while market closed lower at N19.975 trillion. Year-to-date the market has declined by 4.8 per cent. Following the growth recorded two weeks ago, analysts at Cordros Securities had envisaged profit-taking last week. A development that led to the decline in prices of 41 stocks, compared to only 26 stocks that appreciated. And analysts said the lower prices offer investors a good opportunity to enter the market.

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