Equities market thrives on undervalued stocks

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The stock market sustained positive route in 2021 as investors leveraged undervalued stocks despite the ravaging coronavirus pandemic, CHRIS UGWU writes

 

Despite investors’ anticipated hope in 2021 as panic over COVID- 19 seems to be relaxing, investors’ cumulative year-todate (YTD) returns on investments in equities during the half quarter of the year closed negatively at –5.8 per cent. Investors in equities recorded a loss of N1.298 trillion during the half year of 2021 following massive profit taking and low sentiment to growing concerns about the rising insecurities in the country. Analysts attributed the drop in the indices to sell pressure by investors, saying the trend may be sustained as investors continue to offload shares to leverage the appreciation recorded largely during the first month of the year. However, the equities market bounced back with a gain of N1.206 trillion during the third quarter ended September 30, 2021, as…

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