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Stock Analysts Optimistic Of Market Uptrend This Week

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Analysts from securities companies are optimistic of stock market uptrend this week on Dangote Cement Plc shares buy-back programme and positioning for

Sentiments remained broadly bullish in the second trading week of the year as investors continued to cherry-pick stocks with attractive dividend yields ahead of 2021 full year dividend declarations.

Given the bullish sentiment, most sector gauges tracked closed in green. Particularly, the NGX Oil & Gas, NGX Banking and the NGX Industrial indices rose by 1.74 per cent, 0.75 per cent and 3.56 per cent respectively to close at 360.41 points, 412.30 points and 2,086.99 points respectively. The announcement of Dangote’s Tranche II share buy-back programme also contributed to the rise in industrial index. On the flip side, the NGX Consumer Goods index and the NGX Insurance indices lost 1.

On the other side, SUNU Assurance Nigeria led the decliners table by 16.22 per cent to close at 31 kobo, per share. Mutual Benefits Assurance followed with a loss of 12.90 per cent to close at 27 kobo, while Berger Paints declined by 9.94 per cent to close at N7.70, per share.

 

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