The 2019 presidential election is over with the incumbent president emerging after polling 15.19 million votes to defeat Atiku Abubakar, his key opposition. The result has however been rejected by the opposition party citing violence in some areas and election malpractices.
Is this a sign of another political uncertainties?
Investors have also reacted negatively to the uncertainties surrounding this development as the NSE All Share Index failed to break 33,000 basis point, rather went opposite direction to close the week at 31, 827.24 with the year to data return inching close to the negative territory, now at 1.92%.
Similarly, all other indices finished lower with the exception of the NSE Insurance and NSE Industrial Goods indices which rose by 3.01% and 0.93% respectively while the NSE ASeM index closed flat.
Let us analyse the NSE All Share Index Chart:
Continue reading Will the NSE All Share Index Rebound Next Week?
The NSE Index has recorded impressive appreciation. On a year-to-date basis, the index is up by 3.45% as investors take positions on stocks believed to be undervalued ahead of year-end results.
As of this analysis, the market closed the session at 32,515.52 basis point, down by 0.16%. Interestingly, this is the last trading day before Nigerians decide on who leads the country in the next 4 years.
Let us first look at a weekly performance of the index.
The NSE All-Share Index and Market Capitalization depreciated by 0.61% to close the week at 32,515.52 and 12.126 trillion respectively. Similarly, all other indices finished lower with the exception of the NSE ASem, NSE Banking, NSE Insurance NSE-AFR Bank Value and NSE Oil/Gas indices which rose by 0.96%, 0.68%, 0.02%
0.95% and 0.13% respectively.
Continue reading Will NSE Index Go Up or Down After Election? Here a Technical Analysis