Monday, May 17African Business News
Shadow

Tag: Ambrose Omordion

Bargain hunting ahead of Q1 earning season lifts market indices by 1.27%

Bargain hunting ahead of Q1 earning season lifts market indices by 1.27%

Capital Market
Market indicators soared significantly at the end of last week’s transactions, following bargain hunting in some banking stocks ahead of the first quarter (Q1) earnings. The Nigerian Exchange Limited (NGX) All-Share Index (ASI) and market capitalisation appreciated by 1.27 per cent to close the week at 39,301.82 and N20.568 trillion respectively. Other indices finished higher except the NSE Sovereign Bond Index which depreciated by 0.94 per cent while the NSE ASeM and NSE Growth indices closed flat. Analysts said investor confidence is gradually rekindled as more companies release their quarterly scorecards to point a direction for the current financial year. The Chief Research Officer of Investdata Consulting Limited, Ambrose Omordion, said: “We see the ongoing Q1 earning...
Equities defy nationwide protest as index rises by 0.86 percent

Equities defy nationwide protest as index rises by 0.86 percent

Business
The Nigerian Stock Exchange (NSE) defied five consecutive days of a nationwide protest to close the week in an upbeat last week. The All-share index (ASI), and market capitalisation appreciated by 0.86 per cent to close the week at 28,659.45 and N14.980 trillion respectively, even as investors await the Q3 earning scorecards.   All other indices finished higher with the exception of NSE Insurance which depreciated by 0.68 per cent while the NSE ASeM Index closed flat. Nigeria had witnessed 10 days of nationwide protests by youths against police brutality, using the code, #EndSARS. Special Anti-Robbery Squad (SARS), which has allegedly become a notorious terror gang for extra-judicial killings and maiming of often innocent persons. But contrary to expectations that the ...