Equities Market: Lagos Bourse Plunges by 1.98% amid Sell-Offs

Must Read

List of First Bank of Nigeria Sort Codes in Nigeria

The sort code is a number that usually identifies both the bank and the branch where an account is held. The sort...

List of United Bank for Africa (UBA) Sort Codes & Branches (with addresses) in Nigeria

The sort code is a number that usually identifies both the bank and the branch where an account is held. The sort...

List of Guaranty Trust Bank Sort Codes & Branches (with addresses) in Nigeria

The sort code is a number that usually identifies both the bank and the branch where an account is...
- Advertisement -

In the just concluded week, the domestic equities market closed in red amid renewed selloffs as investors took profit on stocks such as GLAXOSMITH, GUARANTY, UBA, ZENITHBANK, DANGCEM, WAPCO and UACN.

The NSE ASI tanked by 1.98% week-on-week to 24,336.12 points. Given the renewed bearish sentiment, all of the sub-sector gauges closed negatively.

Most affected was the NSE Banking index which plummeted by 7.52% to 267.55 points followed by the NSE Industrial index, the NSE Insurance Index, NSE Oil/Gas index and the NSE Consumer Goods index which moderated by 6.43%, 2.21%, 1.18% and 0.47% respectively to 1,118.11 points, 126.61 points, 196.21 points and 430.83 points respectively.

Meanwhile, market activity was upbeat as total deals, transaction volumes and Naira votes increased by 11.32%, 30.09% and 7.22% to 20,058 deals, 0.96 billion shares and N9.18 billion respectively.

In the new week, we expect the NSE ASI to close lower as investors stay on the sidelines to digest the anticipated H1 2020 financial reports. Nevertheless, we urge our clients to continue to take advantage of the temporal downward trend in the equities market as they bargain hunt stocks with strong fundamentals and good dividend yields.

- Advertisement -
Equities Market: Lagos Bourse Plunges by 1.98% amid Sell-Offs - Brand SpurEquities Market: Lagos Bourse Plunges by 1.98% amid Sell-Offs - Brand Spur

Subscribe to BrandSpur Ng

Subscribe for latest updates. Signup to best of brands and business news, informed analysis and opinions among others that can propel you, your business or brand to greater heights.

- Advertisement -

LEAVE A REPLY

Please enter your comment!
Please enter your name here

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Equities Market: Lagos Bourse Plunges by 1.98% amid Sell-Offs - Brand SpurEquities Market: Lagos Bourse Plunges by 1.98% amid Sell-Offs - Brand Spur

Latest News

CBN To Commence Enrolment Of All DFIs, MFBs, PMBs And FCs On The CRMS Platform

As part of the efforts to promote a safe and sound financial system in Nigeria, the CBN introduced the...
- Advertisement -
BrandsPur Weekly Cartoons
- Advertisement -Equities Market: Lagos Bourse Plunges by 1.98% amid Sell-Offs - Brand SpurEquities Market: Lagos Bourse Plunges by 1.98% amid Sell-Offs - Brand Spur