Expectations of improved corporate earnings and dividend declaration for year 2021 scorecards have continued to spur activities on the Nigerian Exchange Limited as more blue-chip stocks constituted the gainers’ chart at the reopening of trading for the month of February, resulting to a further rise in index by 1.05 per cent.
Analysts at Vetiva Dealings and Brokerage said: “Despite the mixed activity level, bullish sentiments persist in the market as investors continue to take positions in fundamentally sound names with good entry points. We expect a further mixed session amid a stronger buy-side interest.”The upturn was driven by price appreciation in large and medium capitalised stocks, which are; Seplat, Conoil, Academy Press, RT Briscoe, Presco, FTN Cocoa and Fidson Health care.
Seplat Energy Plc led the gainers’ chart, appreciating by 10 per cent to close at N869.00, while Conoil Plc followed with a gain of 9.79 per cent to close at N24.10 kobo. Academy Press gained 9.57 per cent to close at N1.03 kobo. UPL garnered 7.50 per cent to close at N2.58 kobo. Lafarge WAPCO added 5.47 per cent to close at N27.00 kobo. NGXGroup also increased by 5.38 per cent to close at N24.50 kobo.
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