By Chioma Obinagwam
Although the Nigerian Stock Exchange (NSE) twin measurement indicators- All-Share index and The Market Capitalisation ended the week in red, as the former shed 2.85 per cent to close at 41,935.93 basis points whereas the later shaved 3.26 per cent to settle at N15.002 trillion, analysts at Afriinvest Research, are still optimistic that the market would rebound in the current week.
“Although we saw a lag in the expected reaction to the impressive results released last week due to investor skepticism on forward earnings, we expect bargain hunting to buoy performance this week whilst maintaining our positive near-term outlook for the market,” the research firm disclosed.
An All-Share index is a series of numbers which shows the changing average value of the share prices of all companies on a stock exchange, and which is used as a measure of how well a market is performing while Market Capitalisation is the market value of a company’s outstanding shares. This figure is found by taking the stock price and multiplying it by the total number of shares outstanding.
Afriinvest Research further disclosed that stocks like FlourMills Nigeria Plc, Mansard Assurance, Access Bank, UBA and Zenith Bank would be toping the chart this week.
The swing of the pendulum is not uncommon in stock markets as capital markets witness changing market dynamics or market correction.
As investors engage in transactions on the Nigerian bourse this week, market observers and investors are hopeful that the pendulum would swing in the upward direction.