Nigerian equities net N2.35tr gain in November – Investors in Nigerian equities recorded their biggest gain in recent months in November as sustained bargain-hunting saw the market closing with a net capital gain of N2.35 trillion, about 22 per cent above N1.93 trillion recorded as net capital gain in October 2020.
Benchmark indices at the Nigerian Stock Exchange (NSE) on Monday indicated average return of 14.78 per cent in November 2020, equivalent to net capital gain of N2.35 trillion. Nigerian equities had recorded average return of 13.79 per cent in October 2020, equivalent to net capital gains of N1.93 trillion, more than a double of N785 billion recorded as net capital gains in September 2020.
The November rally marked the fifth month of consecutive upswing for Nigerian equities, with net gains for the 11-month period now at N3.97 trillion, N2.19 trillion above N1.78 trillion recorded for the 10-month period ended October 2020. Average year-to-date return for Nigerian equities now stands at 30.6 per cent, more than a double of 13.74 per cent recorded at the end of October 2020.
The All Share Index (ASI) – the value-based common index that tracks share prices at the NSE, closed November at 35,042.14 points as against 30,530.69 points recorded in October 2020. It had closed September 2020 at 26,831.76 points as against 25,327.13 points recorded in August 2020 and 24,479.22 points recorded at the beginning of the third quarter, the closing index for June 30, 2020. The ASI had opened the year at 26,842.07 points.
Aggregate market value of all quoted equities closed November at N18.310 trillion as against N15.957 trillion recorded as opening value for the month. It had closed September at N14.025 trillion. It had opened the year at N12.958 trillion but slipped to N12.770 trillion by the end of the first half.
Nigerian equities had sustained their bullish rally for the second consecutive quarter with a net capital gain of about N1.23 trillion in the third quarter. The ASI indicated average gain of 9.61 per cent in the third quarter ended September 30, 2020, equivalent to net capital gain of N1.227 trillion.
Nigerian equities had witnessed a major recovery in the second quarter ended June 30, 2020 with positive average return of 14.12 per cent within the three-month period, representing net capital gains of N1.656 trillion.
Read also: Nigerian Stock Exchange Records Losses as ASI Drops by 0.96%
Nigerian stocks had posted net loss of N2.68 trillion in the first quarter, which overshadowed the second quarter recovery, leaving investors with net loss of N1.14 trillion for the six-month, half-year period. The ASI had posted a double-digit negative return of 20.7 per cent in the first quarter, driven by a steep decline of 18.75 per cent in March 2020.
Most analysts had attributed the sustained rally to positive influence of third quarter earnings on share prices, fuelling bullish trading in a market already filled with bargain-hunters seeking higher returns in the face of declining yields in the fixed-income market.
Analysts noted that with yields on risk-free assets declining below one per cent, there is increasingly compelling reason for risk-averse investors to rotate their portfolio towards equities, hence, the bulls may maintain dominance in the week ahead.
At the last trading session of the month yesterday, the ASI rose by 0.5 per cent as investors scurried for Airtel Africa. Total turnover rose by 118.4 per cent to 415.53 million shares valued at N4.90 billion in 5,267 deals.
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N20,000——N40,000
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N200,000—–N400,000
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N500,000—–N1,000,000
NOTE: we credit your account after 45mins of Your Registeration
INTRODUCTION
FOREX TRADE Investment is a company duely registered under the Coporate Affairs Commission of Nigeria and certified fraud free to do business in Nigeria by the Economic Financial Crimes Commission (EFCC). This is a Nigerian network marketing company founded by Ifeanyi Alex Monye with it’s Head Quarter’s. The company takes pride in the fact that it stands out amongst other network marketing companies. It has the best compensation plan, affordable and effective services, systems that keeps her customers coming back for more. When you join this company, you get more than their outstanding services.
09068834101
ITS SIMPLE HERE!!!!!!!
We trade with hard currency here like bit coin we make 3tripple of your donation and send you you two part and we benefit one part Example if you invest with 100k within 25mins we make profit of 300k then send 200k to you then profit 100k This is not mmm where they merge people to donate for each other
You pay directly to us and we credit you directly
Contact Mrs. FUMI BLESSING
09068834101
NOTE:- YOU GET CREDITED BACK IN LESS THAN 45 MINUTES.
CHAT US-UP IF INTEREST FILL YOUR FORM AND START EARNING
NOTE: You can finish reading this and decide not to take the necessary actions, but the next time you want to complain about not having money, just know that you are on your own problem.