Sunday, February 28African Business News
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Tag: Ambrose OmordionNSE

Rising yields in money market dampen appetite for stocks

Rising yields in money market dampen appetite for stocks

Business
The upward retracement in yields in the fixed income market has continued to dampen investors’ interest inequities as the bearish performance in the Nigerian Stock Exchange (NSE) extended to a third consecutive week. Consequently, the NSE All-Share Index (ASI) and market capitalisation depreciated by 0.63 per cent to close last week at 40,186.70 and N21.026 trillion respectively. Similarly, all other indices finished lower except NSE Banking, NSE AFR Div Yield, NSE MERI Value, NSE Oil/Gas and NSE Growth Indices, which rose by 0.54 per cent, 1.20 per cent, 0.27 per cent, 4.60 per cent and 5.43 per cent respectively just as the NSE ASeM and NSE Sovereign Bond Indices closed flat. Analysts argued that the bond auction results, wherein stop rates rose by an average of 254 basis p...