Although positive sentiments trailed large-cap consumer goods, banking, insurance and industrial goods, massive sell-offs of MTN Nigeria, FBN Holdings, Access Bank and Zenith Bank stocks eroded the gains, causing the market capitalisation and index to close flat.
Analysts have predicted sustained volatility, with marginal gains, amid profit-taking and repositioning. According to them, investors were offloading their holdings to attend to some basic needs, which resulted in a decline in both market indicators. “Therefore, we anticipate mixed sessions to close out the year, as we expect the market to be majorly driven by portfolio rebalancing activities.”
“However, we advise investors to take positions in only fundamentally justified stocks as the weak macro environment remains a significant headwind for corporate earnings.” The conglomerate industry followed with 246.783 million shares worth N 2.1 billion in 382 deals. The consumer goods industry ranked third, with a turnover of 30.307 million shares worth N1.669 billion in 2,157 deals.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Nigeria Latest News, Nigeria Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Yuletide: APC urges adherence to COVID-19 protocols | The Guardian Nigeria News - Nigeria and World NewsThe All Progressives Congress (APC) joins Christians and indeed, all Nigerians in marking the joyful occasion of Christmas, which celebrates the birth of Jesus Christ.
Source: GuardianNigeria - 🏆 1. / 94 Read more »
Paulachino: Beyond passion, music gives me life | The Guardian Nigeria News - Nigeria and World NewsFor someone that loves music and is determined to make his presence known, fast-rising singer and songwriter, Paul Toghanro, otherwise known as Paulachino, has continuously made efforts to remain relevant in the music industry.
Source: GuardianNigeria - 🏆 1. / 94 Read more »
Christmas: Some worship centres flout COVID-19 protocols | The Guardian Nigeria News - Nigeria and World NewsAs Nigeria joins the rest of the world to celebrate Chrismas, the birthday of Jesus Christ on Saturday, some churches in Abuja The guardian Nigeria when the Muslims are observing their own festival do you also find out if they are keeping COVID 19 protocols ?
Source: GuardianNigeria - 🏆 1. / 94 Read more »
OB experiments with Afro-Soul | The Guardian Nigeria News - Nigeria and World NewsHe appears like a child who can barely say when he is hungry or when he wants biscuits, but Oboghene Onome Ezaga’s power and control, and flow has made him a star to watch out for.
Source: GuardianNigeria - 🏆 1. / 94 Read more »
NASS should legislate against new borrowing – Omotola | The Guardian Nigeria News - Nigeria and World NewsThe Group Managing Director of Confederated Facilitators Limited Group, Mr. Lai Omotola has said rather than continue borrowing that is eating deep into the country’s revenue with negative implication on the economy...
Source: GuardianNigeria - 🏆 1. / 94 Read more »
Abisoye Alagbe crowned Face of Topklass | The Guardian Nigeria News - Nigeria and World NewsTwenty-five-year-old Abisoye Alagbe (a.k.a Adebizz) has been crowned the First Face Of Topklass Cosmetics at the just- concluded Reality TV pageant organised by VIP Industries Limited to promote the beauty and values of African women.
Source: GuardianNigeria - 🏆 1. / 94 Read more »