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Punch Newspapers Sections ’Femi Asu Investors lost N30bn on Monday as the Nigerian stock market started the month on a negative note amid profit-taking, ending a five-day gaining streak. The market capitalisation of equities listed on the Nigerian Stock Exchange had risen by 3.44 per cent last week as the market continued its upward trend for five consecutive trading sessions. Investors gained over N1tn in January as the market capitalisation rose to N22.19tn on Friday from N21.06tn at the start of the month. The NSE All-Share Index, however, dropped by 0.13 per cent on Monday to 42,357.90 ...

By Goddy Egene The stock market surged further yesterday with the Nigerian Stock Exchange (NSE) rising 1.21 per cent to close at 41,584.94 as companies begin to release their unaudited financial results for the year ended December 2020. Apart from the benchmark index that appreciated, market capitalisation added N259.4 billion to close at N21.8 trillion. Similarly, activity level advanced as volume and value traded rose 40.5 per cent and 110.8 per cent to 467.9 million shares and N5.6 billion respectively. The bulls were in total control of the session yesterday as 32 stocks appreciated, whil...

Goddy Egene writes that given the gains being recorded in the equities market, discerning investors could invest in stocks to hedge against the rising inflation rate the hit 15.8 per cent in December 2020 Last week the National Bureau Statistics (NBS) released the consumer price index report, which showed that the headline inflation rose to 15.8 per cent in December 2020. The inflation rate, which was an increase from the 14.9 per cent recorded in November, 2020, was said to be the highest level of headline inflation since December 2017, and the largest increase (98bps) since January 2012. Th...

Goddy Egene The stock market rebounded last week recording a gain of N552 billion after declining in the first week of the year. After posting a record growth in 2020, profit-taking by investors made the market close with a decline of 0.37 per cent in the Nigerian Stock Exchange (NSE) All-Share Index (ASI) and N78.7 billion in market capitalisation in the first week. However, the market recovered in the second week with the market capitalisation adding N552 billion to close at N21.530 trillion while the NSE ASI rose by 2.63 per cent to be at 41,176.14. The growth followed renewed demand by in...

Goddy Egene The bulls consolidated their hold on the market yesterday as buying interests in Dangote Cement Plc, MTN Nigeria Plc and Seplat Petroleum Development Company Plc lifted the benchmark index further. The Nigerian Stock Exchange (NSE) All-Share Index (ASI) rose by 1.54 per cent to close at 40,963.14, while market capitalisation rose by N325.3 billion to close at N21.4 trillion. Also, volume and value of trading rose 72.9 per cent and 27.9 per cent respectively to 809.4 million shares and N8.9 billion. Year-to-date, the NSE ASI has gained 1.7 per cent. The bulls clearly dominated the ...