Business

NSE to sustain positive trend in current week

Published

9 years ago

April 30, 2018

Feyijimi Emmanuel

By Chioma Obinagwam

The Nigerian Stock Exchange (NSE) is expected to sustain the positive trend which began last week in the current week.

The firm further disclosed that although its weekly sentiment indicator weakened to 0.7 points from 0.9 points in the prior week dragged by the decline in market breadth, sentiments will remain positive in the week under review.

Analysts at Afrinvest Limited ( an investment and financial advisory firm) disclosed on Monday.

It said: “Despite the decline in market breadth, our outlook for the market in the near term remains largely positive. We anticipate more impressive Q1:2018 earnings result and expect investors to react accordingly.”

The firm further said that the market should except bargain hunting in the mid- cap stocks, which will influence the performance of the market.

More so, top stock picks, Afrinvest disclosed, for the month of May would include Guaranty Trust Bank(GTBank), Nigerian Breweries (NB), Guinness Nigeria, Dangote Cement and Mansard Insurance.

The NSE All-Share Index and the Market Capitalization had appreciated by 1.05 and 1.34 per cent to close the preceding week at 41,244.89 basis points and N14.94 trillion respectively according to data mined from the NSE’s weekly report.

So far, the All-Share index has appreciated by 7.85 per cent year to date.

Related Topics:Nigerian Stock Exchange (NSE)