Nigeria: Stock Market Defies Profit Taking to Close Higher

20 April 2015

After succumbing to profit taking the previous week, the Nigerian equities market returned to positive territory last week helped by bargain hunters's drive to take position for possible gain in the last trading day of the week.

With the week starting fairly, investors had thought the market was about to witness another days of successive rally, it was not to be as the bears took control from Tuesday to Thursday. However, the gains recorded on Monday and Friday outweighed the losses recorded in the others days as the twin market gauge closed higher. The Nigerian Stock Exchange (NSE) All-Share Index (ASI) and market capitalisation appreciated by 0.21 per cent to close on Friday at 35,005.05 and N11.928 trillion respectively.

...

AllAfrica publishes around 400 reports a day from more than 100 news organizations and over 500 other institutions and individuals, representing a diversity of positions on every topic. We publish news and views ranging from vigorous opponents of governments to government publications and spokespersons. Publishers named above each report are responsible for their own content, which AllAfrica does not have the legal right to edit or correct.

Articles and commentaries that identify allAfrica.com as the publisher are produced or commissioned by AllAfrica. To address comments or complaints, please Contact us.