Bullish Start For The Week

The Month of April welcomed the BULLS with open hands trending into 26,000 points level. April so far has recorded 750.45 points.

The Market was up by 496.96 points closing 26,716.70, While stock value was about N4.310bn.

Sectoral Analysis showed the The financial and Insurance sectors leading The Top Trades. The Food Beverages & Tobacco and Oil & Gas sector leading Top gainers and Losers.

Stocks started the session with the Bulls all the way giving the Bears no ground to breath.

Speculation on the coming earnings season seem to have started already as giants like GTBANK & MOBIL announced their earnings today declaring a Div of  75kobo & Bonus of 1:4 and N7.00. From the way the market action looks, investors clearly expect to see a more optimistic earnings season. Today's rally was supported by the above results which makes it a truly bullish day.
Our short term momentum indicators continue to look weak and the market continued to trade with a sense of being overbought. As such, I won't be surprised to see profit taking early in tomorrow's session.

For now, the NSE ASI remains in all out bull trend.

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