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PROPERTY: Bulls To Maintain Dominance On Stock Market This Week

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Analysts maintain that the Nigerian stock market will continue its positive trend, as the market enters trading for the month of May and on the influx of

On market outlook, GTI Securities Limited said: “transactions on the market ended positively as the bullish trend persists, propelled by investors increased buying interest in both medium and large stocks and impressive Q1, 2022 results of some companies. We expect a continuity of this trend as the week rounds up for the Islamic break.”

Notably, investors’ buying interest in Nigerian Breweries, Seplat Energy, Lafarge Africa, Guinness Nigeria and Unilever Nigeria supported market performance. Pertinently, the All-Share Index rose by 2.43 per cent week-on-week to close at 49,638.94 points. Similarly, market capitalisation gained N636 billion W-o-W to close at N26.761 trillion.

The market breadth for the week was positive as 56 equities appreciated in price, 26 equities depreciated in price, while 74 equities remained unchanged. MEYER Plc led the gainers table by 28.76 per cent to close at N3.00, per share. Academy Press followed with a gain of 25.64 per cent to close at N1.47, while Cadbury Nigeria went up by 22.02 per cent to close to N10.25, per share.

 

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