By Dipo Olowookere
For the past weeks now, the Nigerian Stock Exchange (NSE) has witnessed the dominance of bears at the market with new 52-week lows recorded.
The situation at the stock market has been very discouraging to investors, who are very worried at the rate the local bourse was bleeding.
Last week, the equities market depreciated by 4.59 percent, the heaviest this year, registering 14 price gainers and 55 price losers.
However, observers and analysts are predicting that things will get better this week as investors are expected to take advantage of low prices of stocks to add more equities to their holdings.
For example, those at Morgan Capital “expect the bullish sentiment to dominate trading session [this] week as most fundamentally sound counters are now closer to the their 52-week low prices.”
Also giving their projection for the week, analysts at Cowry Asset said, “In the new week, we expect the Nigerian equities market to close in positive territory as investors continue to take advantage of the low share prices of most companies that have posted positive financial results and increased dividend payout.”
Echoing the views above, those at United Capital Research said, “Looking ahead, the current bearish theme creates bargain opportunities for investors as most tickers are trading significantly below their intrinsic value.
“However, a tepid performance could remain in the absence of events that could galvanize investors sentiment.”
Business Post analysts expect the market to witness a Royal Rumble between the bulls and the bears this week. However, the bulls will have a slight upper hand at the end of the week. We believe that the present situation gives investors the opportunity to re-enter into the market and take position for the future rise in prices of stock.
But those at Meristem are of the opinion that “selloffs [will] continue in the coming weeks after investors exit the market, post dividend qualification dates.”
The blockchain brings new financing options to the business market. For example, Bitcoin Cash casino has adapted to only using cryptocurrency. This way, it makes it easier for their customers to deposit and withdraw in a BCH casino. Entrepreneurs have taken note of this and are looking to invest more in crypto than in fiat markets.
Like Our Facebook Page
Latest News on Business Post
- Fitbit Unveils Device to Track Users’ Fitness, Wellness April 22, 2021
- UK Expresses Willingness to Attract More Investments to Nigeria April 22, 2021
- How to Invest in Stocks in Nigeria: Guide for Beginners April 22, 2021
- Jumia Employee Taking Pleasure in Meeting e-Commerce Needs of Rural Dwellers April 22, 2021
- Over 4 million Investors’ Accounts Have Incomplete KYC Data—SEC April 22, 2021
- FBNQuest Merchant Bank Offers to Help SMEs Issue CPs, Bonds April 22, 2021
- Sparkle Nigeria Introduces SMS Alert Fees April 22, 2021
- Keystone Bank Teaches Nigerian Students Financial Literacy April 22, 2021
- Nigeria Borrows N274.5bn from Local Investors at Over 13% April 22, 2021
- Government Seals Kaduna Electric over N464.1m Tax April 22, 2021
Economy5 years ago
Kwara Disburses N1.7b For Projects
Technology4 months ago
How To Link Your MTN, Airtel, Glo, 9mobile Lines to NIN
Economy3 years ago
FAAC: FG, States, LGs Share N655.18b in January
Feature/OPED1 year ago
Davos was Different this year
Feature/OPED1 month ago
COVID and the Growth of Technology in Nigeria
Economy1 month ago
MBA Forex Blames CBN for Inability to Return Investors’ Funds
General2 years ago
Ikeja Electric Explains How to Get Prepaid Metres via MAP
Banking3 years ago
Sort Codes of GTBank Branches in Nigeria