Meanwhile, Cowry Assets Management Limited expected equities to trade sideways as investors stay on the sidelines in anticipation of Q1 2022 corporate financial results.The local bourse last week witnessed bullish momentum as investors bought shares of companies with sound fundamentals. The week was another four-day trading week as the federal government declared Monday, April 18, 2022 as Public Holiday in commemoration of the 2022 Easter celebrations.
Pertinently, the All-Share Index rose by 2.0 per cent week-on-week to close at 48,459.65 points. Similarly, market capitalisation rose by N512 billion W-o-W to close at N26.125 trillion. However, market breadth for the week was negative as 50 equities appreciated in price, 29 equities depreciated in price, while 77 equities remained unchanged. MEYER Plc led the gainers table by 45.63 per cent to close at N2.33, per share. Eterna followed with a gain of 33 per cent to close at N6.65, while Oando went up by 21.33 per cent to close to N5.86, per share.On the other side, Academy Press led the decliners table by 18.75 per cent to close at N1.17, per share.