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    Equities Market Closes Positive as ASI Rises by 1.23% amid Renewed Bullish Activity…

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    Godwin Okaforhttps://naija247news.com
    Godwin Okafor is a Financial Journalist, Internet Social Entrepreneur and Founder of Naija247news Media Limited. He has over 16 years experience in financial journalism. His experience cuts across traditional and digital media. He started his journalism career at Business Day, Nigeria and founded Naija247news Media in 2010. Godwin holds a Bachelors degree in Industrial Relations and Personnel Management from the Lagos State University, Ojo, Lagos. He is an alumni of Lagos Business School and a Fellow of the University of Pennsylvania (Wharton Seminar for Business Journalists). Over the years, he has won a number of journalism awards. Godwin is the chairman of Emmerich Resources Limited, the publisher of Naija247news.

    In the just concluded week, the domestic
    bourse halted the downtrend as bullish
    sentiment dominated trading activity; hence, the NSE ASI advanced week-on-week by 1.23% to close at 38,726.10 points while the YTD loss of the local bourse index moderated to -3.84%.

    Performance across sub-sector gauges was positive as three out of the five indices tracked closed in green zone; the NSE Banking, NSE Insurance and the NSE Industrial indices rose by 0.04%, 1.25% and 2.60% to close at 355.45 points, 207.99 points 1,907.99 respectively.

    On the flip side, the NSE Consumer Goods and the NSE Oil/Gas indices fell by 0.37% and 0.79% to 561.00 points and 306.75 points respectively.

    Meanwhile, trading activity was upbeat as total deals, volume and value of stocks traded rose by 2.03%, 4.35% and 0.81% to 17,933 deals, 1.08 billion units and N9.54 billion respectively.

    In the new week, we expect the equities market index to trade northwards as investors position in high yielding dividend stocks, especially those corporates that pay interim dividend and have printed positive first quarter financial results.

    Hence, we feel the local bourse currently provides ample opportunity for capital gains.

    In the new week, we expect the equities market index to trade northwards as investors position in high yielding dividend stocks, especially those corporates that pay interim dividend and have printed positive first quarter financial results.

    Hence, we feel the local bourse currently provides ample opportunity for capital gains.

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