Finance & EconomyNews

Equity Market Supports Positive Reversal as Investors Go Long

The Equity market opens the week bullish as investors’ buy interest is renewed. The NGX All-Share Index advanced by 0.45% to close at 47,565.92 index points as against the 0.19% loss recorded previously. The NGX Market CAP records a gain of N116.83bn in Naira terms. Sectorial performance was broadly positive, with nine (9) sectors index closing positive, while six (6) sectors closed negative and three (3) sectors closed flat. The NGX INDUSTRIAL sector topped the gainer’s chart with 3.18%, followed by NGX MAIN BOARD with a 1.00% gain. On the losers’ chart, Seplat Energy recorded a loss of -4.00% to sell at N1200 against N1250 previous trade session pulling down the Oil and Gas index by -2.41%. Analysts expect mixed investor reactions this week as inflation and interest rate uncertainty affect the market (see table below).

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