Nigerian equities are performing strongly, with the NGX All Share Index at 130,283.84 points after a 1.02% increase. However, sector performances varied, with nine sectors declining, especially in electronic technology and health technology, pointing to profit-taking. Gains in non-energy minerals and consumer services helped the overall market. Blue-chip stock performance was mixed, with solid gains in Dangote Cement and BUA Cement but declines in banks like Guaranty Trust Holdings. Focus is now on the Central Bank of Nigeria's interest rate decision, which could impact market support.
Nigerian equities remain elevated, with the NGX All Share Index closing at 130,283.84 points following a 1.02% advance on Thursday, positioning the market for a positive weekly finish.
However, the market saw mixed performances at the sector level, as nine out of twenty sectors declined, led by electronic technology, producer manufacturing and health technology, indicating a possible uptick in profit-taking activity.
Gains in non-energy minerals, commercial services and consumer non-durables helped lift the overall performance.
Market attention is now focused on the Central Bank of Nigeria's (CBN) forthcoming interest rate decision, as Nigerian equities may see broader support depending on monetary policy guidance.
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