March 3, 2025
The Nigerian stock exchange has been heated up with strong bargain hunting in banking stocks, and others following a downturn last week, however, Ecobank, Oando and other early risers drove the All share index higher in the local bourse in Monday’s trading.
Investors were making fresh entry into stocks which had lost some value due to profit taking activities. Last week, sell side actors offloaded relatively priced stocks amidst positive real return in the fixed income space.
Meanwhile, stockbrokers are looking towards the renew entry of bullish investors as prices of growth, value stocks have been affected by weak sentiment.
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Alpha Morgan Capital Limited told investors in a note, that the stock market is projected to trade positive this week due to expected demand for stocks that have bottomed out At mid-day, All Share Index triggered by 0.01%, depicting a slight positive trend.
Market analysts, said this gain was fueled by investors interest in some mid to high capitalized stocks.
Monday’s early gainers include ETI 7.57%, OANDO, 3.36%, FBNH 0.85%, ARADEL, 0.40%, FIDELITYBK, 0.28%, ACCESSCORP, 0.20%, and others.
