Wednesday, April 14African Business News
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Tag: ASEM

Oil price rebound improves investors’ patronage, lifts index by 5.59%

Oil price rebound improves investors’ patronage, lifts index by 5.59%

Oil & Gas
The rebalancing in the oil market, which has resulted in a 94 per cent rebound in crude prices, added to enhanced institutional investors’ patronage in the Nigerian bourse buoyed equities transactions last week, as the All-Share Index (ASI), and market capitalisation soared massively by 5.59 per cent to close the week at 25,204.75 and N13.136trillion. Similarly, all other indices finished higher with the exception of NSE ASeM, which closed flat. Analysts argued that the bullish rally also followed investors positioning ahead of markdown dates of blue chip stocks, with many companies yet to release their 2019 full year, and Q1 2020 financials expected to do so. According to them, since the grace period due to the coronavirus pandemic expires on May 31, more numbers are likely to h...