Nigeria: Equities Market Sustains Positive Momentum On Bargain Hunting

12 December 2016

The Nigerian equities market last week sustained the positive momentum to close higher for the second consecutive week. After six weeks of negative trend, the market rebounded the previous week, rising by 1.61 per cent on renewed demand for oil/gas and banking stocks.

The market maintained an upward swing for the second week as most investors took positions in undervalued and fairly priced stocks, after the selloffs experienced in November. Consequently, the Nigerian Stock Exchange (NSE) All-Share Index (NSE) ASI closed 0.30 per cent higher at 25,817.69, while market capitalisation ended at N8.883 trillion.

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