By Niyi Jacobs
The Nigerian stock market experienced a mixed sentiment in September 2024, with investors exhibiting caution amidst economic uncertainty. While some stocks saw significant buying interest, others witnessed substantial selling pressure.
According to the Investdata Monthly Sentiment Report, 80% of stocks were bought, while 20% were sold. The volume index stood at 1.16, and the Money Flow Index (MFI) was 68.19.
The report highlights that investors are becoming increasingly cautious, opting for stocks with strong fundamentals and growth prospects. The market capitalization of the Nigerian stock market increased by 1.38% in September 2024, with the NGXASI index closing at 1.02.
This shift in sentiment suggests that investors are taking a wait-and-see approach, carefully evaluating market trends and economic indicators before making investment decisions. As the economic landscape continues to evolve, it is essential for investors to stay informed and adapt their strategies accordingly.
