Following price gains recorded by most blue-chip stocks, the Nigerian equities market commenced trading for the week on a positive note yesterday, as investors’ wealth appreciated by N36billion. Specifically, at the close of transactions yesterday, the All Share Index (ASI) rose by 70.42 points or 0.29 per cent to 23,941.75 points.
Accordingly, investors gained N36billion in value, as market capitalisation rose to N12.477trillion.The upturn was impacted by gains recorded in medium and large capitalised stocks, amongst which were; Okomu Oil, MTN Nigeria Communications, Unilever Nigeria, Lafarge Africa, and GlaxoSmithKline Consumer Nigeria.
Analysts at Imperial Asset Managers Limited, said: “This week, we expect market sentiment to be mild considering that risks remains broad following the increasing new cases of COVID-19 contagion in Nigeria.
Accordingly, investors gained N36billion in value, as market capitalisation rose to N12.477trillion.The upturn was impacted by gains recorded in medium and large capitalised stocks, amongst which were; Okomu Oil, MTN Nigeria Communications, Unilever Nigeria, Lafarge Africa, and GlaxoSmithKline Consumer Nigeria.
Analysts at Imperial Asset Managers Limited, said: “This week, we expect market sentiment to be mild considering that risks remains broad following the increasing new cases of COVID-19 contagion in Nigeria.