Stock Investors Gain N629bn In November On Impressive Results, Higher Oil Prices
Investors’ investment on the Nigerian stock market rose by N629 billion in November 2021, following impressive nine months results of listed entities and
Also, the managing director, Highcap Securities Limited, Mr. David Adnori, attributed stock market to impressive listed companies’ nine months corporate earnings and improved macroeconomic conditions.According to him, the rising price of crude oil also increased demand for stocks on the NGX. The growth may extend to year end as most Q3 results are fantastic.
He added that, “the rebound in the stock market is expected to extend till year ended because of steady increase in global oil prices. The recovery of the stock market could have been better but insecurity in the nation’s led to hike in inflation rate and investors have to react negatively.”
The chief operating officer of InvestData Consulting Limited, Mr Ambrose Omordion, said, despite the volatility and selling pressure in November, the market closed the month positive, ushering in a buy and bullish December as players continue to reposition their portfolio in line with dividend expectations for the current year-end. headtopics.com
He added that, “we expect the market to close positively this year, with seasonality and cycles likely to influence equity prices ahead of year-end window dressing.ADVERTISEMENT“The low volume traded in the midst of pullbacks is creating new buy opportunities on the strength of the Q3 numbers. Also, candlestick formation and volume traded during the session revealed that institutional players are not selling but positioning in blue-chip companies, as the index slide on a light volume.
Anxiety As Residents Lament Soot Pollution In Oyigbo, Rivers State
Global food price rises further in November -- FAOThe FAO Food Price Index averaged 134.4 points in November 2021, up 1.2 per cent from October and 27.3 per cent from November 2020.
27 days after, bandits hold on to Katsina judge, family cries outThe bandits burnt down the Shari'a judge's Peugeot 406 car before abducting him early November. Terrorists not bandits
Naira gains at official marketAt the black market in Uyo, the currency dealers exchanged the naira at N565.00 and sold at N570.00 to a dollar on Thursday.
#EndSARS Panel: DNA test result contradicts petitioner's maternity claim over childThe EndSARS panel has referred the case to the National Human Rights Commission (NHRC) for appropriate action. Hmm, I hope it will not end in tears for some people
Salah expresses Ballon d'Or hope after Messi wins 2021 awardLiverpool's Mohamed Salah has said he hopes to finish higher in the Ballon d'Or rankings next after he was rated the seventh best player in the world in
Navy keeps mum on Cute Abiola's detention as lawyer appeals for his releaseThe comedian, who is also a Naval personnel, was arrested at his duty post (office) on November 14 for violating the Armed Forces Social Media Policy.