Following heavy price gain recorded by Conoil and 66 stocks, transactions on the Nigerian Exchange Limited (NGX) reopened in an upbeat yesterday as investors’ wealth soared by N534 billion.
Accordingly, the All Share Index gained by 980.97 points, representing a growth of 1.61 per cent to close at 61,949.24 points. Also, market capitalisation gained N534 billion to close at N33.732 trillion.
This week, analysts at United Capital Plc, said: “we expect the bullish sentiments in the equities market to persist on the back of the attractiveness of the market over the depressed rates in the fixed-income market. As measured by market breadth, market sentiment was positive, as 67 stocks gained relative to 13 losers. Eterna, Meyer, Fidelity Bank, Japaul Gold & Ventures, Linkage Assurance and University Press recorded the highest price gain of 10 per cent each to close at N23.10 kobo, N2.64 kobo, N7.70 kobo, 77 kobo, 77 kobo and N2.75 kobo respectively.
On the other hand, Tripple Gee & Company led the losers’ chart by 9.87 per cent, to close at N3.38, while Secure Electronic Technology and Cornerstone Insurance followed with a decline of 9.09 per cent each to close at 30 kobo and N1.
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