Skip to main content

Equities: Weak outlook as year ends

By Nkiruka Nnorom

AFTER closing the week on negative note, investment analysts have projected that the market would end the year in a lacklustre level given the risk-off sentiment prevailing in the market.

OPEC says it pumped less oil in November

The local bourse, which has been moving in opposite direction to other global markets, recorded losses in two of the three trading sessions in the festive shortened week with the All Share Index, ASI, shedding 0.41 percent to settle at 26,416.48 points from 26,526.35 points in the previous week.

Also, investors’ wealth declined by 0.40 percent after the equities capitalisation fell by N51 billion to close at N12.753 trillion from N12.804 trillion.

Meanwhile, global equity markets sustained the positive run from the previous week as investors continue to focus on the prospects of the completion of phase I trade deal between the US and China. According to analysts, Santa Claus rally also supported global equities as fund managers adjust year-end positions.

Consequently, the US stocks (DJIA rose 0.6%; S&P: +0.6%), European shares (Euro Stoxx: +0.2%; FTSE 100: +0.9%), and Asia stocks (Nikkei 225: +0.1%; CSI 300: +0.1%). The positive global sentiments for risk assets extended to the emerging and frontier markets with the MSCI Emerging Market Index rising 0.4 percent and MSCI Frontier Market Index went up by 0.5 percent.

“We see the level of activity and volatility being sustained over the final days of the year, with some pockets of gains expected, as fund and portfolio managers realign portfolios prior to the start of 2020,” said analysts at Cordros Capital in their review of activities in the local bourse. A review of sectoral performances showed that the banking and the industrial goods sectors recorded 0.26 percent and 0.31 percent decline respectively, following selloffs in Guaranty Trust Bank (-2.0%) and Cement Company of Northern Nigeria (-3.0%).

Stock market extends bullish sentiment to 3 consecutive sessions

Conversely, consumer goods (+1.3%), Insurance (+1.0%), and Oil & Gas (- 0.7%) closed higher, driven by gains in Nestle Nigeria Plc (+10.0%), NEM Insurance Plc (+2.2%) and Oando Plc (+6.76%).

Vanguard

The post Equities: Weak outlook as year ends appeared first on Vanguard News.


https://ift.tt/367kvla by Nwafor via Vanguard News Albert Einstein Fools of Fortune
Labels:

Comments

Post a Comment

Popular posts from this blog

Where is Aguleri Located?

Aguleri is a prominent town often associated with the mighty river called Omabala wgiyflows through it. It is home to a lot of great men and women of Anambra Stare - notably Willie Obiano. History had it that it was the cradle of Igbo people established by Eri, son of Had, son of Jacob (you got to read your Bible babe). Where is Aguleri located? It can be foueat the north eastern part of Nigeria. They share boundaries with Kano, Umueri, Anam and Nando httpss://twitter.com/share https://google.com https://www.alexa.com/siteinfo/google.com https://www.quantcast.com/google.com https://sharedcount.com/?url=https://google.com https://www.similarsites.com/site/google.com https://facebook.com https://www.alexa.com/siteinfo/facebook.com https://www.quantcast.com/facebook.com https://sharedcount.com/?url=https://facebook.com https://www.similarsites.com/site/facebook.com https://youtube.com https://www.alexa.com/siteinfo/youtube.com https://www.quantcast.com/youtube.com
Post a Comment
Read more

How to jump-start Nigeria economy post-COVID-19 Pandemic

Nwali Tochukwu Watching with consternation the fall out of events, actions, and inactions of our Nigerian leaders on mitigating the negative impact of COVID-19 Pandemic disruptions on our social and economic lives. As a young dynamic business and entrepreneurship writer, and author cum small business owner, what came into my mind as we navigate the storms of COVID-19, was a common English phrase Adages, Proverbs, first recorded in Fuller’s Gnomologia, 1732: ‘A stitch in time saves nine’ which was translated to literally, solve the problems right now! Why procrastinating? If we, as a nation wants to break away from past mistakes, and present mistakes, we should hold the bull by the horn right now. And avoid the roads of political expediency. That is exactly what the stitch in time simply stood for. Promptly address issues posed by Coronavirus. By quickly sewing up of a small hole or tear in a piece of material, so saving the need for more stitching at a later date when the whole ha
2 comments
Read more

A lot of people think of actresses as prostitutes ― Joke Lawal

On-the-rise actress, Joke Lawal is living up to the title bestowed on her in 2016 as Nollywood New Bride by White Cowry Awards as the one-time City People Awards nominee is rapidly becoming a force to reckon with in the make-believe world. The Moshood Abiola Polytechnic graduate who dumped her degree in Business Administration in pursuit of her passion for acting in a chat with Potpourri has revealed what she hates about being an actress and what she would love to see a change in the movie-making landscape. ALSO READ:  Buhari urges Nigerians to pray for peace, unity “I would like to change people’s perception of actresses. A lot of people think of actresses as prostitutes, they see us as people who are not worthy of marriage and having a family. If I have the power this is something I will like to change. I will also like to see a change in the way our stories are written and interpreted, and in the quality of our film productions. Another thing I would like to change too is, how po
Post a Comment
Read more