Week in View – January 22nd, 2021

The Nigerian stock market witnessed mildly bearish sentiments this week as the All Share Index declined marginally by 0.42% WoW to settle at 41,001.99pts. All sectoral indices closed negative, with the banking index (-1.33% WoW) losing the most. CHAMPION (+44.44%) was the top gainer for the week, while JAPAULGOLD (-37.50%) saw the biggest loss.

During the week, Lafarge Africa Plc., via a circular to the NSE, notified the public of its decision to divest its 35% shareholding in Continental Blue Investment Ghana Limited.

In the fixed income space, the DMO held the FGN bond auction for January 2021, with significantly higher marginal rates across tenors which were all reissues. In the secondary fixed income market, the sentiment was largely bearish as both average bond (up to 10-year) and T-bills yield increased to 6.34% and 0.56% from 5.88% and 0.51% respectively at the end of the previous week.

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The Week in View – January 22nd 2021


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