EQUITIES: INVESTORS LOSE N663BN IN BIGGEST WEEKLY FALL IN 8YRS

Written by on February 15, 2021

THE STOCK MARKET LAST WEEK SUFFERED ITS BIGGEST WEEKLY FALL IN EIGHT YEARS WITH INVESTORS LOSING N663 BILLION. 

HOWEVER, INVESTMENT ANALYSTS OPINED THAT THE PERFORMANCE OF THE MARKET THIS WEEK WILL BE INFLUENCED BY THE OPPOSING FORCES OF UPTICK IN YIELDS IN THE FIXED INCOME MARKET AND 2020 CORPORATE EARNINGS RELEASES BY QUOTED COMPANIES.

THE MARKET HAD SUCCUMBED TO RISE IN YIELDS IN THE FIXED INCOME SPACE FOR THE SECOND CONSECUTIVE WEEK LAST WEEK AS INVESTORS BECAME INCREASINGLY WORRIED OVER THE LATEST DEVELOPMENT IN THE FIXED INCOME MARKET.

AVERAGE STOP RATE IN THE LAST NTB AUCTION ROSE BY 105 BASIS POINTS (BPS) TO 2.33 PERCENT FROM 1.28 PERCENT AT THE PREVIOUS AUCTION.


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