Following price gains recorded by most blue-chip stocks, the bulls upstaged the bears at the reopening of transactions yesterday, causing the All-Share Index (ASI) to appreciate by 0.12 per cent.
Specifically, the ASI of the Nigerian Stock Exchange (NSE) rose 29.87 absolute points, representing a growth of 0.12 per cent to close at 24,858.89 points. Similarly, the overall market capitalisation size gained N16 million to close at N12.968 trillion.
The uptrend was impacted by gains recorded in large and medium capitalised stocks, including, Nestle Nigeria, Okomu Oil, UAC of Nigeria (UACN), PZ Cussons Nigeria, and Fidson Healthcare.
On market outlook for the week, analysts at GTI Securities Limited, said: “We expect the sell-off sentiment in the equities market to slow-down. This, we opined will be driven by the current cheap prices of many fundamentally-viable stocks that offer short-term gains prospect to active investors. However, we believe the anticipated unimpressive…
Source: Guardian Newspaper