NSE Bounces Back On Third Quarter Earnings

The Nigerian equities market bounced back from a 5.5 per cent decline the previous week to last week 2.3 per cent higher.

Same with global capital markets around the world, the Nigerian bourse had been unstable as confidence waned on fears of economic slow-down and declining oil prices.

However, global equities market rallied last week, lifted by a raft of corporate results and benign United States (US) inflation data which suggest the US Federal Reserve may keep interest rates lower for some time.

The Nigerian equities market had the previous week recorded a five-day of straight losses crashing every hope of respite. The market had witnessed massive sell-offs of highly capitalised stocks from the first day of the previous week to the last.

About Author

This is BizWatchNigeria. Nigeria's first online business Newspaper.

Comment here

This site uses Akismet to reduce spam. Learn how your comment data is processed.