Nigeria’s equities market opened the new week in green, rising by 0.25percent at the close of trading on Monday July 7. The market’s positive start to new week pushed the benchmark performance indicator above 121,000 points. The market is up this year by 17.85 percent.
“Looking ahead, the market is likely to trade within a narrow range and be slightly positive as investors position ahead of the half-year earnings season. While intermittent profit-taking may limit further gains, improved foreign investor participation, resilient corporate earnings expectations, and sustained rotation into consumer goods and banking stocks could continue to support overall market strength in the near term,” Lagos-based Coronation research analysts said in their July 7 note to investors.
Universal Insurance, FCMB, Group, Japaul Gold, Access Holdings and AIICO were actively traded stocks.