The Nigerian equities market closed in the positive territory for the seventh consecutive week, as the NSEASI edged up by 1.17% WoW
to close at 25,605.64 pts. All sectoral indices closed positive, with the NSEOILG5 recording the most gain (+3.7%), followed closely by the NSEBNK10 (+2.8%). ROYALEX topped the gainers’ list having advanced by 26.92%, while LASACO emerged as the biggest loser, shedding 16.13% off its share price.
We anticipate lingering positive sentiment into the new week, following the release of Q2:2020 results from most Tier 1 banks (including GUARANTY, ACCESS, ZENITHBANK and UBA). We also expect corporate actions to be top of mind for most investors as they take position ahead of declared dividend payments announced in the previous week.
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