The Nigerian Stock Market gained ground for the ninth day in a roll,with the benchmark All Share Index improving by 0.87% to settle at 24,354.25 points after oil price climbed above $31/barrel on thursday.Investors had hoped for recovery in demand for oil after some countries,including Nigeria,are beginning to ease lockdown.At close transactions thursday ,markets capitalisation rose by N112billion to close at N12.692trillion.This investors have garnered about N695billion in 4days while the markets year-to-date loss eased to -9.3%.Reacting to the performance of the market,analysts say the low yielding fixed income market,panic selling of stocks and the opening of the economy together with the secured release of $3.4billion IMF loan which is believe will boost the external reserves,is driving smart money into the stock market.Speaking,Managing Director API securities believes that panic selling,initiative adopted by some companies and the easing of lockdown by the FG has injected confidence into the market.
