Wednesday, April 14African Business News
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Tag: Ardova Plc

Cheap assets, lockdown easing, others push NSE’s indicators by 4.45%

Cheap assets, lockdown easing, others push NSE’s indicators by 4.45%

Capital Market
Analysts sceptical on sustainability, blame rising pandemic, weak economy Cheap stocks prices, gradual easing of the lockdown, and inflow of facilities from the International Monetary Fund (IMF), propelled activities on the equities sector of the Nigerian Stock Exchange (NSE), as the market sustained nine successive sessions of bullish rally into the first week. Consequently, the NSE All-share index (ASI), and market capitalisation both appreciated by 4.45 per cent to close the week at 24,045.40 and N12.531trillion, respectively. All other indices finished higher with the exception of NSE ASeM, which shed 0.18 per cent. A breakdown of transactions during the week showed that the equities market commenced trading for the month of May in an upbeat on Monday, with the ASI gaining 0....
Stock market reopens upbeat as index rises by 0.30%

Stock market reopens upbeat as index rises by 0.30%

Capital Market
Following price gains recorded by most bluechip stocks, the equities market commenced trading for the month of May, in an upbeat, as the All Share Index (ASI) appreciated by 0.30 per cent. Yesterday, the ASI increased by 68.85 absolute points, representing a growth of 0.30 per cent to close at 23,089.86 points. Similarly, the market capitalisation gained N36billion to close at N12.033trillion. The upturn was impacted by gains recorded in medium and large value stocks, amongst which were; MTN Nigeria, Ardova Plc, Dangote Sugar Refinery, UAC of Nigeria (UACN), and Union Bank of Nigeria (UBN). Analysts at United Capital Plc, said: “This week, the implementation of OPEC+ supply cut deal, and the influx of more quarterly earnings will drive sentiments amid increasing number of count...