Business Despite #EndSARS protests, investors gain N121 billion in equities...

Despite #EndSARS protests, investors gain N121 billion in equities trading

-

- Advertisment -

 

Despite #EndSARS protests, investors gain N121 billion in equities trading

 

 

 

 

Investors this week gained N121 billion on the Nigerian equities market, in a trading week marred by #EndSARS protests in the nation’s commercial capital, Lagos, and other cities across the country.

During the week, activities in the local bourse declined from the levels seen in recent weeks, with the value of trades falling 35.0 percent week-on-week, closing broadly flat in four of five sessions during the week.

On Friday, late gains drove the market to a fourth-consecutive weekly gain, with renewed investors’ interest in Zenith Bank (+7.8%), WAPCO (+10.9%), and UBA (+5.9%) drove the benchmark index 0.9 percent higher, week-on-week to 28,659.45 points.

The month-to-date and year-to-date return for the index grew to 6.8 percent, while the banking index topped the sectoral charts at +2.9% percent, followed by the oil & gas (+2.4%), consumer goods (+1.9%), and industrial goods (+0.2%) indices. The insurance (-0.7%) index was the sole loser.

Top gainers include Total up 10.00 percent to close at N112.2; Presco up 8.93 percent to close at N65.9; Zenith Bank up 7.75 percent to close at N21.55; Nascon up 7.44 percent to close at N13.

Top losers include Cutix down 10.00 percent to close at N1.62; Etranzact down 9.42 percent to close at N1.73; Eterna down 7.37 percent to close at N4.9.

Equity analysts opined that the equities market will continue to benefit as domestic investors seek alpha-yielding opportunities in the face of increasingly negative real returns in the fixed income market. (The Cable)

Despite #EndSARS protests, investors gain N121 billion in equities trading
Despite #EndSARS protests, investors gain N121 billion in equities trading
Parrot Nigeria
An online news aggregator

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Latest news

#EndSARS: Lagos lawmaker to donate N10m to victims

        Mr Temitope Adewale, a Lagos lawmaker, says he has earmarked N10 million emergency relief fund for victims of the...

Nigeria set to report Kanu to UK govt for inciting violence

        The Nigerian government is set to report Nnamdi Kanu, to the UK over a viral audio clip, made by...

#EndSARS: Access Bank announces N50 billion interest-free facility for businesses

            Access Bank Nigeria Plc. has announced N50 billion in support of Nigerians through interest-free loans and grants to support...

Obafemi Martins Ends Two-Year Goal Drought in China

        Former Super Eagles striker Obafemi Martins scored his first goal since March 2018 as his Chinese club Wuhan Zall...

#EndSARS: Coca-Cola donates N20m to shootout victims

        Coca-Cola Nigeria on Friday said made a donation of N20 million to cover the medical costs of victims of...

Lagos pledges support to owners of vandalised, looted stores

          The Lagos State Government has announced the state government plans to support business owners who had their businesses vandalised...

TRENDING

Let Tinubu Be…..

              I don't know why those from South-east and south-south...

#EndSARS: SPAR sends thought-provoking message to Nigerians after store got looted

        A store belonging to SPAR Nigeria, a chain of...
- Advertisement -

You might also likeRELATED
Recommended to you