Monday, May 17African Business News
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Tag: Capitalisation

NSE defies GDP contraction, as earnings scorecards push index by 0.35%

NSE defies GDP contraction, as earnings scorecards push index by 0.35%

Economy
Transactions at the Nigerian Stock Exchange (NSE) defied the impact of the recently-published 2020 second quarter (Q2) report of 6.1 per cent gross domestic product (GDP) contraction to close the week on a positive note, as the 2019 full-year corporate scorecards and ongoing half-year earnings reporting season with dividend pay-out continue to support the bull run. Consequently, the NSE All-share index (ASI) and market capitalisation appreciated by 0.35 per cent to close the week at 25,309.37, and N13.203 trillion respectively. All other indices finished higher with the exception of the NSE Premium, NSE Banking, NSE AFR Div Yield, and NSE MERI Value Indices, which depreciated by 0.45 per cent, 0.23 per cent, 0.77 per cent, and 0.9 per cent, while the NSE ASeM Closed flat. Desp...