“However, we expect mixed market performance in the coming week as bargain hunting in stocks with attractive dividend yields will be matched by intermittent profit-taking activities. Notwithstanding, we advise investors to take positions in only fundamentally justified stocks as the unimpressive macro story remains a significant headwind for corporate earnings.”
Eventually, the All-Share Index notched a 0.24 per cent week-on-week gain to close at 51,829.67 points. Similarly, market capitalisation rose W-o-W by N67 billion to close at N27.942 trillion. The market breadth for the week was positive as 34 equities appreciated in price, 29 equities depreciated in price, while 93 equities remained unchanged. John Holt led the gainers table by 30.16 per cent to close at 82 kobo, per share. Cornerstone Insurance followed with a gain of 20.97 per cent to close at 75 kobo, while Okomu Oil Palm went up by 12.09 per cent to close to N216.90, per share.
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