Business Investors shift attention to equities after monetary rate cut

Investors shift attention to equities after monetary rate cut

-

- Advertisment -

Investors shift attention to equities after monetary rate cut


Investors’ interest in the equity market spurred yesterday as the all-share index (ASI) surged by 50bps, closing at 25,783.02 points.

This comes after the monetary policy cut rate by 100bps to 11.5 percent and adjusted the asymmetric corridor to +100/-700 while leaving other policy variables unchanged.

Consequently, the year-to-date return jumped slightly to -3.9 percent, with investors gaining N67 billion as the market capitalization closed at N13.5 trillion.

In terms of market activity, the total volume traded appreciated by 58.1 percent to 414.2 billion units while the total value traded declined by 42.7 percent to N6.3 billion.

Activities on the bond market also mirrored expectations, with the September auction oversubscribed by 1.5x as bids worth N360.2 billion turned up compared to N145 billion on offer.

According to equity analysts, the market would see a continuous flow of funds into the equities markets, especially from local investors, buoyed by the recent decision of MPC alongside the expected sizable inflows into the financial system in fourth-quarter 2020, with the low yield environment in the fixed income market likely to persist.  (The Cable)

Investors shift attention to equities after monetary rate cut
Investors shift attention to equities after monetary rate cut
Parrot Nigeria
An online news aggregator

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Latest news

Obama campaigns for Biden in Pennsylvania

        Former US President Barack Obama returned to the campaign trail for Joe Biden and Kamala Harris on Wednesday, launching...

Bear with us, it’s #EndSARS – Telecom operators to subscribers

          The Association of Licensed Telecommunications Operators of Nigeria (ALTON) has apologised for the network outage being experienced by service...

How armed men attacked, set The Nation newspaper’s office ablaze – Editor

          The management of The Nation newspapers has explained how the headquarters of the company in Lagos was attacked and...

Ruthless Bayern maul Atletico Madrid

        Ruthless Bayern Munich have mauled Atletico Madrid 4-0 in a champions league match played on Wednesday in Germany. The Germans...

‘We’ll get justice for victims’ – Osinbajo breaks silence on Lekki shooting

        Vice President Yemi Osinbajo has broken his silence on Tuesday’s shooting of #EndSARS protesters in Lekki area of Lagos...

No Corps member killed during #EndSARS protest – NYSC

        The National Youth Service Corps, NYSC, has debunked report that a corps member was killed during #EndSARS protest in...

TRENDING

BREAKING: Mob set NPA Headquarters in Lagos ablaze

The Headquarters of the Nigerian Ports Authority (NPA), Marina...

Nigerian Army denies involvement in Lekki Toll Gate shooting

        The Nigerian Army has denied any involvement in Tuesday...
- Advertisement -

You might also likeRELATED
Recommended to you