Stocks News

Inventory market loses N409.2bn to earnings taking in one week

Market capitalisation of the Nigerian stock market diminished in measurement to N36.9 trillion last week because it sheds N409.2 billion to earnings taking last week. This translates to a 1.1 per cent loss in its All Portion Index (ASI).

“Away from our projection, the home equities market closed the week on a bearish whine because the NGX-ASI recorded every week-on-week (w/w) loss of 1.1 per cent to shut at 67,395.74 aspects.

“In consequence, market capitalisation shed N409.2 billion to N36.9 trillion, while 365 days-to-Date (YTD) return declined to 31.5 per cent towards the outdated 33.0 per cent), Acknowledged analysts at Afrinvest.

Process stage however improved as practical volume and price traded rose 15.3 per cent and 4.5 per cent to 586.5 million units and N9.5 billion w/w respectively.

On the enviornment scene, the equities market ended last week on a determined whine, because the MSCI World Index posted a originate of 1.1 per cent w/w.

The determined performance of the MSCI world index got here on the lend a hand of renewed aquire passion in most critical developed markets following two consecutive weeks of bearish dominance.  Within the US, economic records released this week indicated that headline CPI rose by 0.6 per cent in August – the most though-provoking month-to-month jump 365 days-to-Date (YTD), following a 0.3 per cent develop in core CPI amid develop in energy prices…

On the money market, pressures continue to mount on the naira in spite of the develop in the prices of indecent oil.

Closing week, the practical brand of Brent indecent oil rose 2.3 per cent w/w to realize $92.10/bbl. – its top stage since November 2022. The price rally used to be pushed by offer-ask imbalance on the lend a hand of extended production cuts by Saudi Arabia and Russia, elevated ask in China amid bettering macroeconomic records, and disruptions in Libyan oil exports because of the severe flooding…

Closing week, buying passion dominated the secondary segment of the money market. Machine liquidity improved 20.6 per cent w/w to print at N499.5 billion following inflows from most critical market reimbursement price N204.0 billion. Nonetheless, OPR and OVN charge rose 5.8ppts and 5.7ppts to shut at 23.6 per cent and 24.4 per cent respectively.

Be taught Extra

Related Articles

Leave a Reply

Your email address will not be published. Required fields are marked *

Back to top button