Business
Expert Tasks Investors On Retail Bonds
The immediate past president, Association of Stockbroking Houses of Nigeria, Alhaji Rasheed Yussuf, has urged investors to embrace retail bond trading launched last week by the Nigerian Stock Exchange (NSE).
Yussuf told newsmen in Lagos that retail trading in bonds would aid portfolio diversification and transparency of transactions.
He said that the retail bond trading and fixed income market making would boost investors’ confidence as well as deepen the market.
Yussuf, who is also the Managing Director, Trust Yields Investment Ltd., said that the beauty of retail trading in bonds was that small investors could trade in bonds.
He said that the interest of local and institutional investors in the nation’s bourse had increased due to the prospect of better performance of the market.
Yussuf attributed the good prospect to improved macro-economic data and the rise in foreign direct investments.
Meanwhile, the All-Share Index of the NSE appreciated by 828.37 points last week to close at 32,411.86 from the 31,582.49 recorded in the preceding week.
Also, the market capitalisation of listed equities appreciated by N267 billion to close at N10.37 trillion from the N10.10 trillion recorded in the preceding week.
The appreciation was due to price gains by some blue chips.
Nestle led the gainers’ chart during the week, appreciating by N66.99 to close at N819.99 per share.
It was trailed by Julius Berger with a gain of N14.48 to close at N66 per share, while Nigerian Breweries improved by N11.40 to close at N165 per share.
On the other hand, UACN recorded the highest price loss of N4.90 to close at N47.10 per share.