…Conoil led gainers’ table, Guinness with 1.76% loss as worst performer
The upbeat tempo of the Nigerian equities market was sustained on Wednesday, as optimism continued to drive investors’ sentiments, pitching demand for blue chip stocks against supply.
The Nigeria equities market sustained its bullish run for the third consecutive trading session, gaining +3.60per cent Wednesday.
This was driven by high gains recorded by highly capitalized stocks and other promising equities as the market price movement table indicated that 60 accompanies recorded price appreciation against tree that posted decline in share prices.
The equities market continued its bullish run driven by gains across major sectors. However, analyst has predicted a short life span of the run as profit taking would soon take in to.
Investment One, for instance , highlighted the potential for profit taking given the performance of the market in recent times, which it said may present a decent entry opportunity into “our recommended names in anticipation of the release of full year results in Q1 2018.”
For the second day in a week, Conoil sustained lead on the gainers table with 10.23 per cent, while Guinness Nigeria led the decliners with 1.76 per cent loss as the day’s worst performance.