Financial analysts noted that the first quarter of the year was a green one for the Nigerian stock market. It extended the positive outing of January and February in the midst of volatility, better than expected corporate earnings, higher payouts, and positive macroeconomic data to support the buying sentiment.
Also, analyst at PAC Holdings, Mr. Wole Adeyeye said investors have priced in the dividend payout out by listed companies that drive market performance, saying that “Investors have already priced in the dividend in January and February and that is why the market maintained positive growth during the period. However, there was profit-taking in March as most investors did not bother to wait for the dividend payment date.
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