H1’21: Stock market closes negative,investors lose N1.3trn

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H1’21: Stock market closes negative,investors lose N1.3trn

Trading closes red on NSE, investors lose N279bn

Trading closes red on NSE, investors lose N279bn

Analysts project reversal in H2

By Nkiruka Nnorom

CAPITAL MARKET

THE Nigerian stock market has closed the first half 2021, H1’21, negative leading to N1.29 trillion losses to the investors during the period.

The negative development followed the uptick in yields in the Fixed Income (FI) market which resulted in reallocation of assets from equities to FI during the period.

As a result, the benchmark All Share Index (ASI) dropped by 5.87 percent to 37,907.28 points from 40,270.72 points, the opening position in the first trading day of January 2021.

READ ALSOLagos owes 12.31% of Nigeria’s total domestic debt stock ― NBS

Similarly, the market capitalisation of all listed equities fell by 6.16 percent to close at N19.760 trillion from N21.057 trillion at the beginning of the year.

Recall that the positive sentiment that pervaded the market in H2’20 extended into the early part of the year, but was short-lived due to the reversal in the yields…



Source: Vanguard Newspaper