Anticipation of improved first quarter earnings triggered bargain hunting in the equities sector of the Nigerian Exchange Limited , last week, as the All-share index and market capitalisation appreciated by two per cent to close the week at 48,459.65 and N26.125 trillion respectively.
According to them, despite the mixed trend so far in 2021, occasioned by the nation’s insecurity and other macroeconomic challenges, coupled with the usual Easter break, April witnessed sustained bulls’ dominance, making the stocks retain value. However, he urged investors to watch the current market trends, especially with bargain hunters still in the market cherry-picking dividend paying stocks.
Meanwhile, a turnover of 1.3 billion shares worth N17.8 billion was recorded in 20,212 deals by investors on the floor of the exchange, in contrast to a total of 1.247 billion units valued at N22.4 billion that changed hands in 23,406 deals during the preceding week.