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Stocks Trading To Turn Bullish This Week

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Stocks Trading To Turn Bullish This Week
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Given the bearish trading activities last week, capital market analysts have predicted that bulls are expected to return to the Nigerian stock market

In the just concluded week, the local bourse witnessed bearish activity as investors turned their paper profit to cash in order to avoid a dividend trap.

Hence, the All-Share Index lost 0.13 per cent week-on-week to close at 47,268.61 points. Similarly, market capitalisation declined N32 billion W-o-W to N25.475 trillion. However, market breadth for the week was negative as 22 equities appreciated in price, 49 equities depreciated in price, while 85 equities remained unchanged. Seplat Energy led the gainers table by 20.25 per cent to close at N1,034.00, per share. Linkage Assurance followed with a gain of 16.00 per cent to close at 58 kobo, while FCMB Group went up by 11.80 per cent to close to N3.41, per share.

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