Market observers expected the nation’s capital market to experience mixed trade performance in the new week, following the low-price attraction and impressive first quarter results from companies listed on the Nigerian Exchange Limited.
Also, Cordros Capital Limited said: “in the week ahead, we do not think the bulls will repeat the flawless victory that ensued last week as the bears are likely to book profit across most counters. The chief operating officer of InvestData Consulting Limited, Ambrose Omordion, stated that, “we expect the mixed trend to continue on profit taking, positioning and portfolio rebalancing on the strength of the numbers released recently amidst the rising infection rate of the novel coronavirus across the globe and the high yields in the fixed income market.
“However, the strong and faster recovery may continue, depending on market forces, going forward, as propelled by 2020 full numbers and expected 2021 Q1 earnings reports, until the next MPC meeting in May. Analysts observed that buying interests were largely concentrated in banking stocks. Based on the preceding, the All-Share Index advanced by 283.14 points or 0.72 per cent week-on-week to close at 39,481.89 points. Similarly, market capitalisation gained N148 billion W-o-W to close at N20.579 trillion.
On the other side, Academy Press led the decliners table by 10.00 per cent to close at 36 kobo, per share. Chams Plc followed with a loss of 9.09 per cent to close at 20 kobo and Japaul Gold & Ventures declined by 8.33 per cent to close at 55 kobo, per share.