The upturn was impacted by gains recorded in medium and large capitalised stocks, amongst which are; Guinness Nigeria, Stanbic IBTC Holdings, Unilever Nigeria, Cadbury Nigeria and FBN Holdings (FBNH).
Analysts at United Capital Plc said the market would witness some slowdown after last week’s bargain hunting activities. They also expected a slowdown in dividend reinvesting activities.
Vetiva Dealings and Brokerage said: “Just as expected, the market started mixed with the sellers dominating the market. We anticipate continued demand in banking names like Fidelity and Accesscorp while investors continue to cherry-pick attractive counters across the board.
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