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Nairaland Forum / Nairaland / General / Business / Stock Market Rebounds Amid Renewed Bargain-hunting (3820 Views)
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Stock Market Rebounds Amid Renewed Bargain-hunting by Nkemakonam62: 6:05am On Mar 14, 2019 |
Following renewed bargain-hunting in most highly capitalized stocks, the five-day bearish run in the Nigerian stock market was halted at the end of transactions yesterday, as the All-share index appreciated marginally by 0.2 per cent. Yesterday, the All-share (ASI) grew by 46.92 absolute points, representing an increase of 0.15 percent, closing at 31,360.28 points. Similarly, the market capitalisation grew by N18 billion to close at N11.695 trillion. The upturn was impacted by gains recorded in medium and large capitalised stocks, amongst which are; Nestle Nigeria, Chemical & Allied Products (CAP), Okomu Oil, Eterna and Sterling Bank. Analysts at Afrinvest Limited said; “Yesterday’s rebound in the domestic equities market was in line with our expectations and in our view, sustained bargain-hunting will further buoy market performance over the near term.”Codros Capital Limited said: “In the absence of a positive catalyst, we guide investors to trade cautiously in the short term. However, stable macroeconomic fundamentals and compelling valuation remain supportive of recovery in the mid-to-long term.” Market breadth closed negative, recorded 13 gainers against 18 losers. CAP recorded the highest price gain of 10 per cent, to close at N37.40 per share. Sterling Bank followed with a gain of 9.77 per cent to close at N2.36, while Eterna rose by 9.09 per cent to close at N4.80, per share. Consolidated Hallmark Insurance (CHI) appreciated by 7.41 per cent to close at 29 kobo, while Lasaco Assurance rose 6.45 per cent to close at 33 kobo per share.On the other hand, Regency Alliance Insurance led the losers’ chart by 7.69 per cent, to close at 24 kobo, per share. Africa Prudential shed 7.52 per cent to close at N4.55, while Prestige Assurance depreciated by 7.41 per cent to close at 50 kobo, per share. Dangote Flour Mills declined by five per cent to close at N9.50 and Guinness Nigeria shed 4.69 per cent to close at N64 per share. The total volume traded appreciated by 72.08 per cent to 377.49 million shares, worth N2.26 billion, and traded in 3,273 deals.Transactions in the shares of Diamond Bank topped the activity chart with 113.6 million shares valued at N283.36 million. Chams followed with 72.15 million shares worth N14.43 million.FBN Holdings traded 71.53 million shares valued at N586.22 million.Zenith Bank traded 14.59 million shares valued at N321.4 million, while United Capital transacted 12.85 million shares worth N42.36 million. https://www.akelicious.net/2019/03/stock-market-rebounds-amid-renewed.html 2 Likes
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Re: Stock Market Rebounds Amid Renewed Bargain-hunting by Nobody: 6:17am On Mar 14, 2019 |
Where the Atikulated people them. Shey una talk say stock market crash as e lose 17 Likes 3 Shares |
Re: Stock Market Rebounds Amid Renewed Bargain-hunting by Nobody: 6:20am On Mar 14, 2019 |
Even in us we bargain at times |
Re: Stock Market Rebounds Amid Renewed Bargain-hunting by helinues: 6:21am On Mar 14, 2019 |
Okay |
Re: Stock Market Rebounds Amid Renewed Bargain-hunting by BigSarah(f): 6:25am On Mar 14, 2019 |
FaKe news, I expect the worst by Monday 1 Like |
Re: Stock Market Rebounds Amid Renewed Bargain-hunting by Nobody: 6:25am On Mar 14, 2019 |
. |
Re: Stock Market Rebounds Amid Renewed Bargain-hunting by jomoh: 6:26am On Mar 14, 2019 |
Very good |
Re: Stock Market Rebounds Amid Renewed Bargain-hunting by Nobody: 6:28am On Mar 14, 2019 |
How this one take help our lives |
Re: Stock Market Rebounds Amid Renewed Bargain-hunting by coolestchris(m): 6:32am On Mar 14, 2019 |
we need more investors... Nigeria is a very promising country.. our country is very fertile . there are certain words which I do not expect from Nigerians. from some comments am seeing. even the great wall street faced a terrible recession. so let's give our country a chance.. our problems will be solved by our collective efforts as Nigerians despite our challenges as a country. we are more promising than other countries... most of our problems are not alien to what other countries do 11 Likes |
Re: Stock Market Rebounds Amid Renewed Bargain-hunting by Nobody: 6:36am On Mar 14, 2019 |
coolestchris:hw much hv u invested 1 Like |
Re: Stock Market Rebounds Amid Renewed Bargain-hunting by coolestchris(m): 6:38am On Mar 14, 2019 |
Joromi12:do I have money. it is those whom has much, that much is expected from 3 Likes |
Re: Stock Market Rebounds Amid Renewed Bargain-hunting by InaNla(f): 6:43am On Mar 14, 2019 |
Buari & this administration needs to come up with a very clear policy direction that gives confidence to the investors. Enough of Buari’s myopic approach to economy with its attendants policy somersaults. 2 Likes 1 Share |
Re: Stock Market Rebounds Amid Renewed Bargain-hunting by Olushola190(m): 7:00am On Mar 14, 2019 |
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Re: Stock Market Rebounds Amid Renewed Bargain-hunting by Eliteklaus(m): 7:01am On Mar 14, 2019 |
Videos of Fulani herdsmen in action in North Central Nigeria http://www.blog.sebastienmenard.net/19458//A7F0c/?sc=1&sc=1&l=1&ppy=4900658&i=4900658 |
Re: Stock Market Rebounds Amid Renewed Bargain-hunting by TEYA: 7:02am On Mar 14, 2019 |
InaNla:Una go wail tire 4 Likes 2 Shares |
Re: Stock Market Rebounds Amid Renewed Bargain-hunting by Boldtrust(m): 7:06am On Mar 14, 2019 |
coolestchris: You are truly educated. 2 Likes 1 Share |
Re: Stock Market Rebounds Amid Renewed Bargain-hunting by ihedioramma: 7:18am On Mar 14, 2019 |
BigSarah:Why worst ? so you enjoy nigerian hardship? 2 Likes 1 Share |
Re: Stock Market Rebounds Amid Renewed Bargain-hunting by NOETHNICITY(m): 7:42am On Mar 14, 2019 |
I'm in sevia pain somebody pls add that Fayose pics 2 Likes 1 Share |
Re: Stock Market Rebounds Amid Renewed Bargain-hunting by NOETHNICITY(m): 7:44am On Mar 14, 2019 |
InaNla:shut up and wait until 2023 3 Likes 1 Share |
Re: Stock Market Rebounds Amid Renewed Bargain-hunting by dante0147: 7:57am On Mar 14, 2019 |
Just look at the way our economy is growing like a snail walk... No wonder buhari says his name is Go slow !! Hahaha I pity Nigerians |
Re: Stock Market Rebounds Amid Renewed Bargain-hunting by seunfly: 8:07am On Mar 14, 2019 |
BigSarah: Lol, just because una theif no win abi? 3 Likes 1 Share |
Re: Stock Market Rebounds Amid Renewed Bargain-hunting by Nobody: 8:20am On Mar 14, 2019 |
coolestchris:in 30 yrs oil go cast. No one will come to nigeria to invest. Abeg flee while u can. Mk ur kids no curse u |
Re: Stock Market Rebounds Amid Renewed Bargain-hunting by BigSarah(f): 8:46am On Mar 14, 2019 |
seunfly:Nigerian saviour lost |
Re: Stock Market Rebounds Amid Renewed Bargain-hunting by farem: 9:50am On Mar 14, 2019 |
BigSarah: ...you mean to your family members and other ahitophels? Amen! But for us, Good Nigerians, our Monday shall be filled with good news, Amen! |
Re: Stock Market Rebounds Amid Renewed Bargain-hunting by fatboyebele(m): 12:08pm On Mar 14, 2019 |
Sunu assurance |
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