BUHARI’S RETURN FAILS TO INSPIRE INVESTORS AS NSE INDICATORS CONTINUE SOUTH
MARKET UPDATE FOR AUGUST 21, 2017 The week started with a volatile Monday on the Nigeria Stock Exchange (NSE) as the benchmark index witnessed some upside down actions, starting out with a side range, after which there was a slight drop in the morning hours, before a mid-day reversal when it started to rally. That was however before the NSE’s most capitalized equity- Dangote Cement (accounting for over 30% of market capitalisation) suffered a set-back, pulling back the index and thereafter came on again by afternoon to finish lower at the close of the day’s trading. For some, the setback suffered by the indicators is a sign that investors and traders are not enthusiastic and have therefore not factored last Saturday’s return of President Muhammadu Buhari to the country after almost 105 days medical leave which began on May 7, 2017 into the mix. Reason, it was learnt, is that many are simply not expecting any significant changes in the fundamentals of an economy that con...