Johnson OkaforThe bulls maintained its grip on the market activities following gains recorded majorly by blue chip stocks as investors positioned to leverage undervalued stocks. The key market performance measures, the NSE All-Share Index and market capitalisation, rose by 0.31 per cent as market sentiments extended gaining streaks, following investors’ sustained optimism on undervalued stocks. The rally, according to market watchers, was driven by bargain hunting activities on the back of undervalued stocks, following renewed appetite in anticipation of share appreciation. Market capitalisation of equities appreciated by N40bn or 0.31 per cent to close higher at N12.959tn from N12.919tn as market sentiment remained on the green territory. Jaiz Bank Plc recorded a gain of 7.27 per cent to close at 59 kobo per share.

Source: Punch August 05, 2020 00:58 UTC