The NGX All Share Index of Nigerian equities has been fluctuating near recent highs, indicating instability with only 6 out of 20 sectors posting gains. Despite the positive sentiment from rising crude prices, which may bolster exports and fiscal stability, the market is pressured by inflation due to increased operational costs in energy, transportation, and other sectors. Sector performance is mixed, complicating the overall market outlook as only a few sectors demonstrate resilience, and many face potential profit margin challenges amid rising costs.
Nigerian equities remain high, with the NGX All Share Index fluctuating between 115,000 and 114,000, illustrating underlying market instability despite some sector gains.
The recent crude rally, influenced by geopolitical instability, enhances Nigeria's export receipts but also raises domestic inflation, squeezing margins across sectors unable to pass costs.
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