Consequently, the NSE All-Share Index and Market Capitalisation both appreciated by 0.09 per cent to close the week at 25,221.87, and N13.158 trillion, respectively.
Precisely, analysts at Codros Capital, said: “Our view continues to favour cautious trading as risks remain on the horizon due to a combination of the increasing number of COVID-19 cases in Nigeria, and weak economic conditions. “Again, the current undervalue state of the market offers investors opportunities to position for the short, medium and long-term, which is why investors should target fundamentally sound, and dividend-paying stocks for possible capital.”
Analysts at United Capital Plc, said: “We believe a bullish catalyst could be triggered by the publication of a strong earnings report from the outstanding tier-one banking names.” The uptrend was impacted by gains recorded in large and medium capital stocks, amongst which were; Dangote Sugar Refinery, Flour Mills of Nigeria, United Bank for Africa , University Press, and Guinness Nigeria.
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