Stock Market Review
Oluwatosin Olaseinde
Founder, MoneyAfrica & Ladda | Fintech | Edtech | World Economic Forum Young Global Leader | Linked In Top Voices Finance & Economy 2020 | Mandela Washington Fellowship | Financial literacy expert
Good morning and how are you doing? Did you have a lovely weekend? We hope so.
Our Monday newsletters are about the stock market.
If you have questions on stocks or anything related to personal finance, please send an email to [email protected] or a DM to any of our social media platforms.
Green White Green last week
Last week’s trading session ended on Thursday, as Friday was declared a public holiday to mark the Christmas celebration.
It was a positive week on the Nigerian Stock Exchange this week? How do we know this? The All Share Index gained 5.42%. The index measures the average performance of stocks on the exchange.
Naturally, some stocks will do better than the index and some others will do worse than the index.
FTN Cocoa Processors led last week’s gainers, for the 3rd time running. It gained 43.5% to close at ?0.89. The stock has done over 100% in the last three weeks.
Trans Nationwide Express was the worst-performing stock last week. It declined by 9.20% to close at ?0.79. Tranex as the firm is commonly known operates in the logistics space.
Green White Green this week
One of two things could happen this week. Traders could decide to sell down in order to cash out their gains. We could also see stock prices inching up a bit higher.
This week’s trading session would also be shortened as today and Friday, January 1, 2021 are public holidays. The stock exchange is closed for trading on public holidays.
Dangote Cement will commence its share buyback on Wednesday, December 30, 2020. The company will be buying up to 85,202,537 shares, and the exercise will end on Thursday the December 31, 2020 or whenever the target number of shares has been met.
The stock hit a 2-year high last week and it could push up further. Nevertheless, please trade with caution. The share price will very likely move in a volatile manner.
Star-Spangled Banner last week
Last week was mixed for US stocks. Two of the three major indexes closed in the red. The Dow Jones Industrial Average (commonly known as the Dow) fell by 0.34%). The S&P 500 fell by 0.52%.
The NASDAQ index however was the outlier. It gained 0.52%.
Star-Spangled Banner this week
On Thursday last week, all three major indices closed in the green. This could be an indication of a Santa Claus rally happening this year.
A Santa Claus rally is when you have the stock market perform well in the last five trading days of December, and the first two trading days in January.
However, there are a few factors that can put a pause to that—worries about the coronavirus pandemic and a Senate by-election. What does politics have to do with the stock market? If the Democrats win the by-election, it means they can start to push policies by incoming President Joe Biden. If Republicans maintain their dominance of the Senate, then things go on as they have.
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Have a profitable week.
The Money Africa Team??.
Digital Marketing Manager at ICT Division
3 年Happy new year my all clients
Assistant Head of Project Manager at Eventecture
3 年Good morning , i want know how i can be buying and selling dollar
Técnico em contabilidade at E E P S G Dr. Alarico da Silveira
3 年Happy New Year (2021) my friends. Lots of light, peace and health, with many achievements.
Liquidity Analyst at Lloyds Banking Group
3 年Suprisingly, NSE has been generating positive vibes in this Corona year, the year to date has increased tremendously and Market Capitalisation hit an all time high of N20trn. This is a good time to increase direct investment and expand production. I hope relevant stakeholders can be engaged to do this. This will go along way in countering the increasing unemployment and ultimately taking Nigeria out of recession.