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Stock Exchange
The stock market extended losses to three consecutive sessions yesterday, causing market capitalisation to depreciate further by N12 billion.
At the close of transaction yesterday at the Nigerian Exchange Limited (NGX), the market capitalisation of listed equities declined by 0.06 per cent to N19.928 trillion from N19.940 trillion reported the previous day.
The All-Share Index (ASI) also depreciated by 23.13 basis points to 38233.68 points from 38256.76 points recorded on Tuesday.
Analysts at Afrinvest Limited said: “We expect the market to remain bearish in the next trading session due to the absence of a positive catalyst.” x
However, market sentiment, as measured by market breadth, was positive as 20 stocks appreciated in price while 14 others constituted the losers chart.
Wema Bank Plc is to hold its Annual General Meeting for the year ended December 31, 2020, today. The statutory annual gathering of shareholders and other critical stakeholders of the bank will take place at the bank’s corporate head office where the financial results for the year 2020 and other important issues related to the growth plans of the bank will be deliberated on.
In line with the current Covid-19 prevention and containment protocols, the meeting will be held virtually with shareholders enabled to take part via a Zoom conference call. At the meeting, there will be strict adherence to social distancing rules and use of face mask by every participant at the physical meeting as directed by the health authorities.
Wema Bank Plc is hosting a creative essay competition for children.
The 2021 Royal Kiddies Essay Competition tagged: “Write & Win”, will test the creative writing abilities of young school children in Nigeria aged 5 – 12.
It aims to develop writing skills, promote creativity, imagination capabilities, reward creativity, and drive them towards excellence in their learning process.
“Ten kids will emerge from a transparent, credible, and thorough screening process. The top three essays will each get Huawei tablets and Royal Kiddies branded T-shirts.
“The seven other finalists will each get a N20,000 prepaid gift card for school supplies in addition to a branded T-shirt.
Goddy Egene writes that as inflation rate remains above 18 per cent, the stock market still provides investors opportunity to earn positive returns on their investments
When investors stake their funds, their expectation is to reap positive returns on investments. That means a return that is above inflation rate. And considering the fact that inflation rate stood at 18.12 per cent as at the end of April 2021, investors must invest in securities that would produce a return of above 18.12 per cent.
Although it is difficult to come across investment that can give yields above inflation rate, the equities market offers investors opportunity to enjoy positive returns. However, for investors to earn such positive returns in the equities market, they must seek the advice of professionals. This is so because just as the market is capable of fetching positive returns, investors could also lose their investments if not well guided by professionals.