He also urged investors to target dividend-paying stocks and fundamentally sound companies with growth prospects in 2021, looking the way of mispriced equities ahead of interim dividend announcement, saying that this is especially given that despite the seeming improvements, fixed income yield continues to offer negative real rate of return due to the galloping inflation.
Resultant of this effect, the All-Share Index advanced week-on week by 430.18 points or 1.11 per cent to close at 39,156.28 points. Similarly, market capitalisation rose N224 billion W-o-W to close at N20.409 trillion. Market breadth for the week was slightly negative as 35 equities appreciated in price, 36 equities depreciated in price, while 89 equities remained unchanged. Cutix Plc led the gainers table by 23.56 per cent to close at N2.25, per share. Okomu Oil Palm followed with a gain of 20.73 per cent to close at N116.50, while Morison Industries went up by 9.73 per cent to close to N1.24, per share.
Overall, a total turnover of 1.058 billion shares worth N12.831 billion in 17,854 deals were traded last week by investors on the floor of the Exchange, in contrast to a total of 1.082 billion shares valued at N9.548 billion that exchanged hands previous week in 17,933 deals.
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