at the equities sector of the Nigerian Stock Exchange , causing investors’ fortunes to rise, and the NSE All-share index and market capitalisation to appreciate by 1.41 per cent to close the week at 25,041.89 and N13.063 trillion, respectively.
For instance, the Chief Research Office of Investdata Consulting Limited, Ambrose Omordion, said: “The market again seems to have discounted the policy somersaults and lack of economic direction, as the government and its economic managers continue to wobble on policy formulations and statements that reveal a clear lack of coordination and vision among the different facets of policymaking.
He therefore advised investors to trade low priced stocks with serious caution to avoid being trapped. The uptrend was impacted by gains recorded in large and medium capital stocks, including Flour Mills of Nigeria, BUA Cement, GSK Consumer Nigeria, Guaranty Trust Bank, and Neimeth International Pharmaceuticals.
On Wednesday, the local bourse extended the positive streak to four consecutive trading days, just as more blue-chip stocks witnessed price rallies, resulting to a further increase in the All-Share Index by 0.16 per cent Trading on the Exchange sustained a rising profile on Thursday, as more blue chip stocks appreciated in price, causing investors’ wealth to increase by N25 billion
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