Analysts have warned stock market investors to trade cautiously as sentiments would depend on the Central Bank of Nigeria, CBNs monetary policy decision this week.
Meanwhile, trading on the Nigerian Exchange Limited, NGX, extended its positive momentum last week, marking the fourth consecutive week of gains as investors reacted to the April inflation report and global trade developments. Specifically, the NGX All-Share Index ASI advanced by 0.9 Week on Week, W/W to close at 109,710.37 points from 108,733.40 points the previous week.
The positive performance was supported by strong performances from Oando shares , which gained 20.7, Transcorp shares 6.0, Trandcorp Hotel shares 6.2, Nestle shares 10.0, and Access Holdings shares 10.3, to push the Month-to-Date, MtD and Year-to-Date, YtD returns to 3.7 and 6.6, respectively.
On the W/W, market capitalisation, which shows the total value of stocks on the Exchange gained over N461 billion to close at N68.800 trillion from N68.339 the previous week.