“However, since many high cap stocks have this month as their dividend qualification dates and markdowns, we expect a bit more volatility in the equities market this month.”
Yesterday, the ASI increased by 334.06 absolute points, representing a growth of 1.40 per cent to close at 24,143.37 points. Similarly, the overall market capitalisation gained N174billion to close at N12.582trillion.
Analysts at United Capital Plc said developments in the crude oil market, the decision to ease lockdown, and the expected impact on the economy triggered positive sentiments in the capital market. Consequently, the market breadth closed positively, recording 35 gainers against four losers. Consolidated Hallmark Insurance and Nigerian Breweries recorded the highest price gain of 10 per cent each, to close at 33 kobo and N33.00, respectively, while Ardova Plc followed with 9.84 per cent to close at N13.95, per share.
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