Investors on the Nigerian Stock Exchange (NSE) are beginning to buy into recent dip as earlier envisaged. This move led to the record positive close on Tuesday March 10.
Investors showed remarkable interests in stocks like Champion Breweries (+8.91 percent ), Neimeth (+8.85percent) and Nahco (+6.64percent).
The Nigerian Stock Exchange (NSE) All-Share Index (ASI) and Market Capitalisation moved up from 38,686.85 points and N20.241trillion respectively on Tuesday to 38,931.25 points and N20.369trillion.
Stock market gains N128bn on renewed buy interest – Businessday NG
The NSE ASI increased by 0.63percent at the close of trading, while the value of listed stocks decreased by N128billion.
In 4,437 deals investors exchanged 368,216,369 units valued at N4.909billion. UBA, FBN Holdings and GTBank were actively traded stocks on the Bourse.
The market’s year-to-date (YtD) negative returns decreased to -3.33percent, while the record dip this month stood at -2.18percent.
Investors in Nigeria’s equities market became worse off in the trading week ended March 5 after booking about N245billion loss as funds moved out of equities due to impressive yields in the fixed income (FI) market.
Investors are now battling with the decision to either buy into the recent dip or to stay out of the market pending when there are major positives capable of reversing the negative trend.