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24,0000 IS THE NUMBER: NSE REACHES 59 WEEKS HIGH

Nairametrics by Nairametrics
September 6, 2012
in Uncategorized
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                                                                                  Source: NSE

The picture above depicts the surge in the value of the Nigerian Stock Market in the last one year. Yesterday, the Nigerian stock market All Share Index reached a 59week high of about 24,000. What is causing this? Operators point to the direction of banking stocks which has also seen tremendous increase in value over the past 3months or so rising 36% year to date. But is that really why? I think not! Portfolio investments may be the reason why. Foreign Investors have been pouring in money into the equities market lately seeking to benefit from the very low P.E ratios posted by most stocks. Problem however is that this bullishness often leads to a prolonged bearishness. The foreign investors will soon sell off enmasse as they reap profits. For those hoping to invest now and hold hold in the short term, best of luck.

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Tags: COMPANY RESULTSEARNINGS REPORTNews ReviewRESULTSSTOCKS

Comments 3

  1. ugodre says:
    September 6, 2012 at 10:17 am

    24,0000 IS THE NUMBER: NSE REACHES 59 WEEKS HIGH http://t.co/5GDMwRUl

    Reply
  2. resourcedat says:
    September 6, 2012 at 10:17 am

    24,0000 IS THE NUMBER: NSE REACHES 59 WEEKS HIGH http://t.co/xbwWP7x6

    Reply
  3. ugodre says:
    September 9, 2012 at 10:18 pm

    BLOG POST:: 24,0000 IS THE NUMBER: NSE REACHES 59 WEEKS HIGH –                                  … http://t.co/qZhOATTd

    Reply

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