Equities continue downward trend on low investors sentiment

As expected, the equities on the Nigerian Stock Exchange (NSE) continued to tilt southwards as it’s key measurement indicator- the NSE All-Share index, shed 0.29 percent from the 24,826.75 basis points (bps) it recorded on Friday, to settle at 24,753.92 bps at the close of Monday’s trading.

Confiance News gathered from the NSE’s website on Monday.

The NSE All-Share index tracks the general market movement of all listed equities on the Exchange regardless of their capitalisation.

More so, the Market Capitalisation of listed equities on the Exchange declined to N12.91 trillion from the N12.95 trillion recorded on Friday.

Moreover, the negative trend is not unconnected with dampening investors sentiments of investors precipitated by the COVID-19 pandemic and the weak economic conditions.

Confiance News earlier reported that the hope for a rebound of equities in the current week is bleak owing to the factors stated above.

Again, a total of 26 stocks declined whereas only 11 of them recorded some gains.

Meanwhile, a total of 124.69 billion shares were traded at N1.3 trillion in 3,843 deals.

However, with the phased easing of the lockdown (initially effected to check the spread of the coronavirus pandemic) and implementation of positive economic policies like the National Savings Strategy, recently endorsed by the Minister of Finance, Budget and National Planning, Mrs. Zainab Ahmed, aimed at diversifying the economy and deepening of the capital market, there is a likely rebound of the equities market.

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