L
LequteMan
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The Nigerian equities recorded an unexpected turnaround last week recovering, appreciating by N1.396 trillion.
The market had suffered an unprecedented decline in last few weeks hitting a two-year low in the previous week. The market capitalisation fell below the N10 trillion threshold, while the Nigerian Stock Exchange (NSE) All-Share Index (ASI) declined below 30,000 threshold as well.
However, the tide changed last week as investors swooped on stocks that were trading about 50 per cent below their year's opening prices.
Highly capitalised stocks such as Dangote Cement Plc, Nigerian Breweries Plc and Nestle Nigeria Plc boosted the recovery. Also interest in Seplat Petroleum Development Company Plc whose shares became investors’ toast on the announcement of possible merger with Afren Plc - contributed to the recovery recorded last week.
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#Nigeria
The market had suffered an unprecedented decline in last few weeks hitting a two-year low in the previous week. The market capitalisation fell below the N10 trillion threshold, while the Nigerian Stock Exchange (NSE) All-Share Index (ASI) declined below 30,000 threshold as well.
However, the tide changed last week as investors swooped on stocks that were trading about 50 per cent below their year's opening prices.
Highly capitalised stocks such as Dangote Cement Plc, Nigerian Breweries Plc and Nestle Nigeria Plc boosted the recovery. Also interest in Seplat Petroleum Development Company Plc whose shares became investors’ toast on the announcement of possible merger with Afren Plc - contributed to the recovery recorded last week.
click here to read more
#Nigeria
