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Stock market indices gain N36 billion

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“As such, investors are advised to trade cautiously, and seek buying opportunities in fundamentally justified stocks.”

Following price gains recorded by most blue-chip stocks, the Nigerian equities market commenced trading for the week on a positive note yesterday, as investors’ wealth appreciated by N36billion. Specifically, at the close of transactions yesterday, the All Share Index rose by 70.42 points or 0.29 per cent to 23,941.75 points.

Analysts at Imperial Asset Managers Limited, said: “This week, we expect market sentiment to be mild considering that risks remains broad following the increasing new cases of COVID-19 contagion in Nigeria. Okomu Oil recorded the highest price gain of 9.99 per cent to close at N60.55 per share. Neimeth International Pharmaceuticals followed with 9.72 per cent to close at 79 kobo.

On the other hand, Lasaco Assurance led the losers’ chart by 7.41 per cent to close at 25 kobo per share. Cornerstone Insurance and Jaiz bank followed with a decline of 6.78 per cent each to close at 56 kobo each, per share.

 

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