“This will result in market players targeting fundamentally sound and dividend-paying stocks in the hope of dividend announcements. This is happening amidst the expectation of interim dividend-paying corporate earnings, among others game-changers.”
In the new week, analysts at Cowry Assets Management Limited expected the market to trade in a mixed sentiment as the dividend season draws near for investors to continue their profit-making activities, saying “we will continue to advise investors to trade on companies’ stocks with sound fundamentals and a positive outlook.”
The market breadth for the week was negative as 19 equities appreciated in price, 36 equities depreciated in price, while 101 equities remained unchanged. Cornerstone Insurance led the gainers table by 26.32 per cent to close at 72 kobo, per share. Seplat Energy followed with a gain of 10.00 per cent to close at N143.50, while Linkage Assurance went up by 9.43 per cent to close to 58 kobo, per share.
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