Consequently, the All-Share Index and market capitalisation of the stock market appreciated by 2.09 per cent to close the week at 26,968.79 points and N13.019 trillion respectively.Analysts are of the view that the Nigerian equity market would be a mixed, but promising one this year.
The Chief Research Officer of Investdata Consulting Limited, Ambrose Omodion, said: “As we have also noted earlier, for the second consecutive year, the All-Share Index of the Nigerian Stock Exchange closed negative in 2019. “It is, therefore, not out of place to expect that the market’s graph will become flat initially, before pointing northward for the good of equity investors who position in key sectors of the economy and indeed, financial services players.
For Codros Capital Limited, “our base case for equities posits muted stock market performance for the year. A turnover of 2.309 billion shares worth N21.675 billion was recorded in 14,906 deals by investors on the floor of the exchange in contrast to a total of 735.702 million shares valued at N7.132 billion that was exchanged in 7,138 deals during the preceding week.