The Nigerian stock market gained N852 billion in the first two days of this week as investors remained upbeat.
Market analysts had said the Nigerian stock market would remain bullish after recording an unprecedented growth in October. “It is expected that discerning investors and traders would take advantage of the prevailing relative low stock prices, year-end season and cycle to grow their income, ahead of major earnings season in the first quarter of 2021.”
Similarly, analysts at Greenwich Research said: “Positive sentiment, boosted by impressive earnings performance continued to spur interest in the equities space, in the face of record-low yields in the fixed income space. Notably, gains recorded at the start and the end of the week pinned the market in the green zone. We expect this momentum will be sustained by positive Q3 earnings results, particularly from the banking space.