The NSE All-Share Index and Market Capitalization depreciated by 1.11% and 0.14% to close the week at 41,472.10 and N14.982 trillion respectively.
Similarly, all other indices finished lower during the week with the exception of the NSE CG, NSE
Banking and NSE Pension Indices that appreciated by 1.07%, 3.31% and 1.67% respectively.
We draw our top stocks to watch from the previous week’s top gainers believing that they may sustain their current trend for 5 days.
Investors sold the stock despite the impressive the financial result released. Last week, it bounced back from a low of N27.6 to N30.2 representing 9.42%. The stock had just tested its support region (marked yellow) and is already trending upward on increased weekly volume.
The stock gained 7.54% last week to close at N6.13. Eternal oil stock had also bounced from the 20-moving average an increased volume. We also expect the momentum to continue this week.
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