Equities investors gains N629bn in November amidst renewed interest

As the month of November ended on Tuesday, the stock market of the Nigerian Exchange Limited (NGX) appreciated by N629 billion, over investors’ renewed interest in listed high-mid capitalised and undervalued stocks on the bourse.

According to the end of the month data from the local bourse, the market capitalisation of the stock market on the NGX appreciated by 2.9 per cent or N625 billion to close on November 30, 2021, at N22.569 trillion, up from the N21.938 trillion the market opened for trading this year.

Consequently, the NGX All-Share Index also appreciated by 2.9 per cent or 1,209.45 basis points from the 40,270.72 basis points it opened at the beginning of 2021, to 43,248.05 basis points.

Further analyses indicated that the stock market in its Year-till-Date (YtD) performance gained N1.5 trillion from N21.063 trillion the stock market opened in 2021 to close November 30, 2021, at N22.567trillion.

Similarly, the NGX ASI has gained 7.4 per cent or 2,977.33 basis points to 43,248.05 basis points as at November 30, 2021, from 40,270.72 basis points it opened this year.

Despite the fact that the stock market in 2021 has been confronted with foreign investors’ exit, a double-digit inflation rate that discourages investment as well as the movement of liquidity to money market instruments, the local bourse appreciated.

Meanwhile, profit-taking activities continued in the equities market on Tuesday, as selloffs in banking stocks, specifically Guaranty Trust Holding Company, Union Bank of Nigeria and Zenith Bank drove the benchmark index lower.

Consequently, the All-Share Index declined by 0.1 per cent to 43,248.05 basis points with the Month-to-Date and Year-to-Date gains moderating to +2.9 per cent and +7.4 per cent, respectively.

The total volume of trades for the day however increased by 5.5 per cent to 224.91 million units, valued at N3.71 billion, and exchanged in 4,331 deals.


FALSE! Yoruba Not An Official Language In Brazil

Claim: A national newspaper and multiple online platforms claim Brazil has adopted Yoruba as its official language and that the language would be included in primary and secondary schools curriculum.

Verdict: The claim is false. The content of the article published by these online platforms is not new; it has been recirculated several times and has been debunked.Equities investors gains N629bn in November amidst renewed interest

Equities investors gains N629bn in November amidst renewed interest

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