The stock market attracted N42.142 billion invested in 1.602 billion shares in 19,507 deals last week.
This was an increase of 292 per cent compared with the N10.759 billion staked on 1.263 billion shares in 19,975 deals the previous week. Equally, the NGX All-Share Index rose 1.27 per cent to close higher at 39,301.82.
The rebound in the market could be linked to investors’ renewed appetite for shares boosted by the release of companies’ first quarter (Q1) results.
According to analysts, the floor of the NGX would be flooded with more results this week.
“We expect NGX’s floor to be flooded with results as the Q1-2021 earnings season commences in full swing. We believe investors will be looking for clues on how corporate earnings will evolve in 2021, given the expected improvement in macroeconomic conditions.