Investors Adjust For Stock Market Corrections – GCFRNG
By Peter Egwuatu
The Nigerian equity market recorded a volatile and volatile session as well as a closing list on the last two business days to end the previous three fall days.
However, the net worth of investors in Nigerian Exchange Limited, NGX, lost N34 billion as the market cap reached N20.455 trillion from N20.489 trillion last week.
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Meanwhile, investors regained interest rates on the bank after Access Bank released its impressive half-year financial results on the market, in addition to the price of Dangote cement which boosted the NGX index, closing on Friday with a base of 39,261.01 in spite of selling pressure persisted.
The value of 1.338 billion shares reached N8.65 billion in 19,830 billion contracts traded within a week of Investors ’scrutiny on the Exchange, in contrast to the total of 1.026 billion shares valued at N8.183 billion that changed hands. . last week on 18,102 contracts
The Securities and Exchange Commission (measured in volume) conducted the project drawings at 615,594 million worth of N4.188 billion in trade contracts and 9,021 contracts; this group provides 45.99 per cent and 48.42 per cent on total equity and individual earnings.
Conglomerates followed with 253.392 million to N280.789 million in 1,126 transactions. Third place is Consumer Goods, with a turnover of 185.854 million which amounted to N1.593 billion in contracts of 4,107.
Trading in the top three currencies are Transnational Corporation of Nigeria Plc, Honeywell Flour Mill Plc, and Access Bank Plc (volume) amounting to N44.570 million worth of N1.492 billion out of 3,696 transactions, respectively. it gives 33.66 percent and 17.25 percent in total. rotation volume and size individually.
All other listings ended down except for NGX Insurance, NGX AFR Div Yield, NGX MERI Growth, NGX Mary Value, and NGX Government which had 0.79 percent, 0.11%, 0.03 percent, 0.31 percent and 0.65 percent respectively , while NGX ASeM and NGX Growth Indices closed.
Commenting on the performance, analysts at InvestData Consulting Limited, said: “We expect that the funds provided by the Central Bank of Nigeria, CBN, to Small-Medium Scale Enterprise, SMEs in the country will go down n ‘market and raise these. small business and promoting ongoing economic recovery.
“Despite mixed opinions for September, it is still a positive month with changes in strong trading conditions and positive impacts over the years.
Looking at the market, it was said: “We expect changes in the market to take advantage of the correction so that more stocks enter the market to buy. them to attract money into size gaps, such as investors in companies and others breaking second, Q2. The increase in GDP precedes the results of the previous banks, as well as the continued restructuring of the Portfolio for the past year. “