After muted days of buy activities, Nigeria’s stock market recorded early rally on Friday as invested pounced on the stocks of Fidelity Bank Plc.
As at 11am, the NGX All Share Index (ASI) was up by 0.19 percent to 109,385.94 points. Fidelity Bank was up to N18.60, after adding N1.255 (6.63 percent).
After Thursday’s negative close, Vetiva analysts said in their post trading commentary that, “With market breadth weakening and key sectors under pressure, investors may stay defensive unless renewed buying interest emerges in oversold key names. Barring a strong rebound in the banks or consumer goods space, the market looks set to close the week on a softer note”.