Stocks: Expectation of economic recovery to further boost confidence this week
http://ift.tt/eA8V8J By Peter Egwuatu INDICATIONS have shown that the equity market will receive further boost this week as expectation of economic recovery continues to heighten given the bullish trend recorded in recent weeks. However, market analysts and operators have expressed mixed views as some believe that some investors will take profit from the recent bull run to sell, while others said that bargain hunting will characterise the market to sustain bullish trend. Also, on a year-to-date basis, the Nigerian Stock Exchange, NSE All share index increased by 16.73 per cent. The sector gauges, showed that the NSE Banking Index, the NSE Insurance Index, the NSE Consumer Goods Index and the NSE Industrial Index revved by 400 bps, 608 bps, 768 bps and 917 bps to close at 376.44 points, 140.75 points, 776.06 bps and 1,853.65 points respectively. Market outlook: Market analysts from Cowry Asset Management said “This week, we expect a...